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

To: Mudcat who wrote (24439)	8/13/1998 9:39:00 AM
From: Henry Niman	Respond to of 32384

Mudcat, The tax aspect is way out of my area, but I suspect that the conversion rate merely defines the number of LGND shares that they receive for their SRGN shares and taxes would be based on what they bought SRGN at and how much they received for those shares when sold as LGND. Thus, if they bought 100 shares of SRGN at $0.50 (cost $50 not counting fees), they would get 3.6 shares of LGND and if they sold the 3.6 shares at $10.00 they would have taken a loss of $14 ($50 minus $36) plus transaction fees.