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Biotech / Medical : Trinity Biotech (TRIBY) -- Ignore unavailable to you. Want to Upgrade?

To: AgAuUSA who wrote (9754)	7/19/1998 10:22:00 PM
From: Scott H. Davis	Respond to of 14328

Convertible at a discount of 22.5% after 181 from issuence? Good chance we're seeing some of that. I have seen a number of stocks drift down on low volume, but the action on TRIBY was material last week. And sure, If I could buy at $1.00 vs open market, I would too. I just would not get excited about it as an investor weithing the extra cash & management vote vs the amount of dilution & effect on EPS. Scott

To: AgAuUSA who wrote (9754)	7/19/1998 10:53:00 PM
From: dowman	Read Replies (1) \| Respond to of 14328

Oh sage, oh wise one. I would point out to you that real companies sell convertible securities that are convertible at a premium to the existing stock price, not at a price that gives the holder the right to convert profitably no matter what happens to the price of the stock. Convertible at a 10% to 22% discount? Think about that. This is investing without any risk to the holder of the bonds. And what that means to me is that they are unable to sell to any "real" investors on terms that are advantageous to either you a shareholder or the company. Why is that if the prospects are so bright? Clueless?... not likely. And oh by the way, I guess that blows the idea of no new dilution as the holders of these instruments always sell. So is that 2 million new shares for dilution?