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Biotech / Medical : Biotech vs. Shorts -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (126)	8/10/1999 12:04:00 PM
From: biowa	Read Replies (2) \| Respond to of 427

DAK, IMO before we go tar-and-feathering anyone who does a floating convertible, it might not hurt to realize that this is the only money that has been around to keep some of our beloved biotechs afloat at all. Collarless and discounted deals do threaten some big downside, that's why its up to management to avoid them if at all possible, and to make sure that their investors are reputable and ethical - especially if they have to resort to these terms. For some of these issuers this is the only option short of the bankruptcy bar or selling the company; hopefully they're making this choice based on realistic upside opportunity for the shareholders if the business continues as a going concern. For what its worth