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Biotech / Medical : VGNX -- Variagenics, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Findit who wrote (212)	11/11/2002 9:59:33 AM
From: dalroi	Respond to of 269

thats simple arbitrage short hysq and perhaps start buying vgnx i've seen it time on time when there was no collar cheers S out at 1.72

To: Findit who wrote (212)	11/11/2002 10:20:34 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 269

HYSQ is selling off on low volume. Their shareholders will by joyous with the deal, once they start to think. They're basically doing an offering -- without underwriting fees and without the usual discount -- at a time where offerings are either impossible or go off at big discount. VGNX book -- 9/30 -- was $62.6M, and cash and securities was $60.8M. The deal, including warrants and in the money options is $56M at HYSQ's Friday close. If this discount to cash and securities holds, it's a no-brainer that there will be better offers. IMO.