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


To: Mudcat who wrote (16106)2/28/1998 9:02:00 PM
From: Andrew H  Read Replies (1) | Respond to of 32384
 
>>If Lgnd does not decide to take a drug from Lilly then it appears Lilly will purchase an additional $20M equity at a 20% premium. This equates to $18 per share (15+20%) or another 1.1M shares.<<

I believe it is a 20% premium to the average market close for the 20 days preceding, so unfortunately the price would be considerably less than 18 and the shares greater than 1.1 million.