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

To: Mike McFarland who wrote (662)	8/22/1999 11:36:00 AM
From: Mike McFarland	Read Replies (2) \| Respond to of 4474

That is a mere 5M, not 10M as I said. Putting down 5M for a couple years and capturing 3.5M shares is sure a sweet deal for the "institutional investors", plus I see here that the debentures are "redeemable under certain circumstances and convertible into shares of common stock if not redeemed within one year of the date of issuance." So in addition to the warrants, the 5M captures even more shares, let's say one-for-one, so something around 8.5M shares are given away for a 5M loan--at the bargain rate of 10%?!! Now let's assume that these are serial rapists and they're back for more... 8.5M shares to the "institutional investors" 2.19 HFTP c/o Promethean 0.95 Brown Simpson Ltd. 0.51 Brown Simpson L.P. that's about 12M shares given away, or something like 37% of the company if this latest deal goes through. Add some shares bought at market prices, pretty cheap as well, and if these "institutional investors" are all working together, boom, you've given away a majority position. End of Ariad. I assume these fellas would sell it for scrap--which would bring a few bucks a share. But this is not why you invest in these, for the breakup value. What a shame. Please correct me if I'm confused folks, but the fact that I'm practically the last one here on the thread suggests that it's all over. The question now is whether to hang through the inevitable shareholder lawsuits and such, hoping that the garage sale goes well, or to dump this dog. It's so sick when you see a mutt walk over to lap up his own vomit--nice job Berger, you have destroyed everything. All that is left is smelly drool. Anybody want forty thousand shares and six grand worth of worthless warrants? They'll be going cheap over the next week or so as I finally wash this crap off my hands.