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Biotech / Medical : DPII: Discovery Partners Int'l -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (92)	6/27/2006 12:34:08 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 111

Box 1 How reverse mergers work: the case of infinity on page 599 of the June Nature Biotechnology has a mistake. "infinity gave over almost two-thirds of the shares to DPI investors in the deal" Stacy Lawrence probably meant to write that Discovery partners shareholders get one-third of Infinity. Under the terms of the agreement, DPI would issue, and Infinity stockholders would receive, in a tax-free transaction, shares of DPI common stock such that Infinity stockholders would own approximately 69% of the combined company on a pro forma basis and DPI stockholders would own approximately 31%, assuming DPI’s net cash at closing is between $70 to $75 million.