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Biotech / Medical : ARIAD Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (642)	8/9/1999 11:12:00 PM
From: LLCF	Respond to of 4474

<My point is that if they have waited those days and the price has not declined further, they would then be at risk if they did not then convert. > No, because if the stock sits, they just keep tacking on more days that they can wait because new 1 1/8 bids keep going into the data base. The closing bids must rise and stay higher. I remember how PARS used to sell off every day near the bell. <I'm not trying to defend the floorless of course> No, no.. of course not, and I'm not trying to make this personal. It's just that being involved in the field I really find it hard to believe that the buyers of these things [bad boys] don't know EXACTLY what a sweet deal they have... understanding it fully really pisses me off. Check out the other side... stock takes off tomorrow. They have 22 days to buy stock down here @ $1 or whatever. They just lay into it at their leisure. < It also has this strange follow-on provision where the Preferred holders basically get a call allowing them to double their investment under certain conditions and the company gets a put as well.> If I read this correctly it basically says there is going to be 10,000 outstanding. Thats 10 million dollars worth of stock, or 10 million shares at todays price. DAK