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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: M. Ramle who wrote (1350)	10/30/1998 7:21:00 AM
From: BMcV	Respond to of 10280

Sepracor redeems convertibles: biz.yahoo.com Sepracor to Redeem 7% Convertible Debentures MARLBOROUGH, Mass., Oct. 30 /PRNewswire/ -- Sepracor Inc. (Nasdaq: SEPR - news) today announced the call for redemption on December 1, 1998, of all of its 7% Convertible Subordinated Debentures due December 1, 2002. Debentures in an aggregate principal amount of $80,880,000 are currently outstanding. The redemption price of the Debentures is $1,035 per $1,000 principal amount of the Debentures plus accrued and unpaid interest to the redemption date, for a total of $1,070 for each $1,000 principal amount of Debentures. As an alternative to redemption, holders of Debentures have the option until 5:00 p.m. Eastern Standard Time on November 16, 1998, of converting their Debentures into Sepracor Common Stock at a conversion price of $19.68 per share. Each $1,000 principal amount of Debentures will be convertible into 50.81 shares of Sepracor Common Stock. Cash will be paid in lieu of any fractional shares of Sepracor Common Stock upon conversion. Based on the last reported sale price of the Sepracor Common Stock on the Nasdaq National Market System on October 29, 1998, the 50.81 shares have a current market value of approximately $3,328.06, which substantially exceeds the redemption price. The details concerning terms and conditions of redemption or conversion are fully described in a Notice of Redemption and Termination of Conversion Right to be mailed to holders of Debentures on October 30, 1998. Redemption and conversion transactions will be handled by The Chase Manhattan Bank.

To: M. Ramle who wrote (1350)	10/30/1998 7:54:00 AM
From: ocerg	Read Replies (1) \| Respond to of 10280

Mazen, As far as options trading, I've been around the track a few times. But you are right, I did not intend to make it sound easy. My only point was that if you admit to owning the stock, you are in at a better price than if you did a straight stock purchase. Thanks for your reply. Best of luck to you also.