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


To: Allan Harris who wrote (15170)2/17/1998 11:28:00 AM
From: Henry Niman  Respond to of 32384
 
Allan, LGNDW can be exercised anytime between now and June 3, 2000. The conversion price is about 7 1/8 (the actual price is 120% of the average closing price of the 20 trading days prior to issue date of June 3, 1995). The spread is high because volume is low (LGNDW is usually thinly traded). LGNDW is not callable, although Ligand has mentioned offering a premium to exercise early.