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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: jayhawk969 who wrote (29111)	8/5/1999 1:29:00 PM
From: bob zagorin	Respond to of 32384

not sure why you're raising that fear but, as i posted last week, here are the details as presented in the Cal Tech Newsletter. "...With the stock this depressed, LGND took advantage of their standby arrangement with Elan plc and took down $40 million of the $100 million zero coupon convertible notes. These notes are to be used for acquisition and merger expenses, so Ligand used the cash to pay off the Seragen shareholders and also to clean up a smaller contingent payment related to the January acquisition of Marathon Biopharmaceuticals. The convertible note valued the stock at $14, a 27% premium, in contrast to the discount Isis took. Bravo, Ligand! It's a great cost of funds. We're continuing to recommend this stock, even in the teeth of a potentially broad market decline...."

To: jayhawk969 who wrote (29111)	8/5/1999 5:35:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

As predicted, LGND announced a CASH payment of $0.23 to former SRGN Shareholders. go2net.newsalert.com