Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: Zvi Yammer who wrote (1570)	11/3/1998 6:58:00 PM
From: John Metcalf	Respond to of 2742

Zvi, the warrants are the right to purchase shares in the future for a quarter. When (if) the warrants are exercised, PMC will have to pay the 25 cents. It could be said that the warrants were free, or that they account for some portion of the premium to market that PMC paid for 1.3mm shares, or a value could be assigned using Black-Scholes. Either way, PMC bought shares at a substantial premium and in accordance with Cistron's earlier announcement.