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

To: LLCF who wrote (723)	10/12/1999 10:58:00 AM
From: Biomaven	Read Replies (3) \| Respond to of 4474

David, < 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> This is very important indeed IMO... it keeps them from stealing the company as I has speculated in any event... isn't 5% the threthold for filing with the SEC?? I should emphasize again that the 5% restriction is meaningless - they don't exercise and hold, they sell and then exercise. They never even reach 1%. Peter