Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: scaram(o)uche who wrote (716)	10/12/1999 10:35:00 AM
From: Biomaven	Read Replies (2) \| Respond to of 4474

the terms of the Series C Preferred Stock restrict a holder from converting shares of Series C Preferred Stock to the extent that such conversion would result in any holder holding more than 4.99% of the then issued and outstanding shares of common stock I'm afraid this is a straw limit. It stops the holders exercising and holding, but of course that's not what they are doing. Instead they sell (short) and then exercise to cover - they never hold anywhere near 5%. I bought some this morning at around $1. The floorless will soon be behind us - only question is how many million shares they will end up with. Peter