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

To: bob zagorin who wrote (29439)11/19/1999 1:30:00 PM
From: Andreas Helke  Read Replies (1) | Respond to of 32384
 
Ligand will just print one share and get $6 if the warrant is exercised now or will get $7.12 if the warrant is exercised later.

The only role of the market price of the shares is that Ligand will get nothing if the market price of Ligand goes below $7.12 again at the expiration of the warrants. In this case the total number of shares and share equivalents will go down but Ligand does not get new working capital.

Andreas


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