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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (29424)11/19/1999 3:06:00 AM
From: Cheryl Galt  Read Replies (1) | Respond to of 32384
 
> if the stock price was $3 higher, wouldn't it cost LGND about $3 more per share to redeem the warrants? <

I don't know. Though it's only midnight here, my brain feels like cotton right now, and resists doing any math.

BUT, if Ligand were $13 right now (and it could get to $13 during the offering period), and i could pick it up for $6, I for one would be happy to do so
-- especially since i would then hold a liquid instrument
-- instead of an ever-thinner option, rapidly nearing expiration, in a period of unpredictable events.
---------

Yes, i'm happy to see the demise of the warrants.
Gotta quit this rambling!
Cheryl



To: bob zagorin who wrote (29424)11/19/1999 8:21:00 AM
From: Tiger  Read Replies (1) | Respond to of 32384
 
I think it depends on where the LGND shares are coming from. It would cost more for LGND if it has to buy the shares from the market for redemption. Assuming this is the case, the offer is a bullish sign (aside from strengthening LGND's cash position).


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