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Biotech / Medical : Oravax(orvx)
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To: LTK007 who wrote (108)1/30/1999 7:19:00 PM
From: Ploni  Read Replies (2) of 127
 
That's excellent news. Why does it say "cash and stock"? I thought this was an all-stock deal.

I saw some people were complaining that Peptide's price had dropped, and you commented recently that it had jumped 40% in one day, but the latest news release (changing from $15 million to $20 million) indicates that the conversion rate hasn't been set yet, so it's irrelevant how Peptide performs until then.

I still don't know why ORVX is languishing below 50 cents, when we were figuring $15 million would be worth more than 90 cents a share. Now we're looking at more than a dollar a share. All I can think of is that there is concern the deal won't happen, but I think Peptide already arranged a cash infusion for ORVX, so it seems to be a "go" to me.

Are you continuing to accumulate ORVX stock? I doubled my position upon hearing of the proposed takeover, and will breakeven at 95 cents.
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