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Biotech / Medical : Paracelsian Inc (PRLN) -- Ignore unavailable to you. Want to Upgrade?

To: Hank who wrote (3924)	10/11/1998 11:12:00 PM
From: John H. Farro	Read Replies (2) \| Respond to of 4342

Hank, If my memory serves me correctly (I am too lazy to look it up), the company wanted to raise the number of authorized shares for several reasons, one of which was the possiblity of a secondary offering. I don't think any specific offering was in the works. It would just provide another tool for them to raise money at some unspecified time in the future. I doubt the company would even consider a secondary offer while the price was below $2 - $3 per share. The delisting has obviously postponed the time at whcih a secondary offering could take place. I think they have enough cash to carry them through until the Scherer deal kicks in, but it sure would be nice if they had the option to do a secondary loan. Robin