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

To: celeryroot.com who wrote (26631)	11/19/1998 12:58:00 PM
From: aknahow	Read Replies (1) \| Respond to of 32384

Once I see the information provided in the final quarters report I will have not even the slightest doubt about what is meant by, "issue price". Perhaps I am dense or having problems because the word issue, contains the word is. Lacking a definition of this word prevents me from understanding what everyone else already understands. On September 29, 1998, the Company and Elan Corporation, plc ("Elan") signed a binding letter of agreement. Elan purchased approximately $20.0 million of the Company's Common Stock in two installments. On September 29, 1998, Elan purchased 1,278,970 shares of the Company's Common Stock for $14.9 million ($11.65 per share). The second installment to purchase 437,768 shares for $5.1 million ($11.65 per share) occurred at the closing of the transaction on November 9, 1998. Elan purchased from the Company at the closing, $40.0 million in issue price of Zero Coupon Convertible Senior Notes, due 2008 with an 8.0% per annum yield to maturity (the "Notes").