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

To: Biomaven who wrote (7782)1/21/2003 10:38:28 PM
From: IRWIN JAMES FRANKEL  Read Replies (1) | Respond to of 52153
 
Floorless convertibles - It seems that the floorless convertible is still preferable to conventional bonds since when they cannot be repaid the company goes into bankruptcy and the bondholders own the whole company leaving the stockholders with nothing. Even dramatic dilution is better than that.

ij



To: Biomaven who wrote (7782)1/24/2003 10:02:02 AM
From: Biomaven  Read Replies (3) | Respond to of 52153
 
Speaking of the dangers of combining floorless convertibles with biotechs that change their names

Turns out this wasn't quite accurate:

Message 18485022

So this was a "hidden" floorless. Wonder if there are any others like it lurking around?

Peter


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