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Biotech / Medical : Pharmos (PARS)
PARS 2.700+13.6%Jan 21 4:00 PM EST
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To: LLCF who wrote (630)3/11/1999 5:47:00 PM
From: Tony van Werkhooven  Read Replies (1) of 1386
 
David- Your comment:<... hedge funds do transactions to make money... they put together the proposal on the prefered and
undoubtedly made sure they made quite a profit... if they sell the security back they>

A while ago I read through the description of the Pref. shares - back when we were discussing the conversion price- it is my recollection that any redemption is punitive towards PARS. Which makes sense from the perspective of the devil (I mean CC), otherwise they could open themselves to a short squize.

Tony
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