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Biotech / Medical : ARIAD Pharmaceuticals
ARIA 23.990.0%Feb 17 4:00 PM EST
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To: Mike McFarland who wrote (463)2/6/1999 6:05:00 PM
From: Dr. John M. de Castro  Read Replies (1) of 4474
 
If you want to check out the terms of the conversion, here's the link to the 8K filed on Edgar:

sec.gov

It's tough reading. But, probably the clearest section to find the terms of conversion in is Exhibit 4.3.

If there is a knowledgeable individual out there who understands how these bottomless convertibles play out I'd really appreciate hearing your thoughts. What kind of strategy do the "investors" (word used guardedly) use in selling short, covering shorts, and liquidating the obtained shares?

John de C
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