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Biotech / Medical : Sepracor-Looks very promising
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To: RCMac who wrote (2063)3/22/1999 9:29:00 AM
From: IRWIN JAMES FRANKEL  Read Replies (1) of 10280
 
Thanks RCM for the info on the converts and options.

As of the 12/31/98 financial report weighted average shares outstanding were reported as 31,298,000. SEPR was about $88 on that date.

So if I have it right:

All shares due to be issued for converts (I don't know if options follow the same rule but think they do) that were under $88 would have to have been counted in the 31.2 million shares. That leaves only another 2.4 million shares converts at 124.75. That suggests once we pass 124.75 we have 33.6 million shares. If options are not added in til exercised or some other rule that kept them out of the Dec 98 avg then we would have to add 3.49 to the 33.6.

I'll try to do a little more checking on this unless you or others can set me straight.

(Hope you do not mind the challenge, I'm not being critical, just want to get it right.)

Respectfully,

ij
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