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

To: SPSEIFERT who wrote (27171)	1/5/1999 5:41:00 AM
From: Cheryl Galt	Respond to of 32384

>> I question whether these are the same warrants as those traded under the LGNDW symbol. The reason I say this is that on the announcement I read on Yahoo it talked about a strike price of $10/share. Can anyone confirm? << They are the same -- and only -- warrants. In the Yahoo announcement, the $10 was the price in 1995 of an ALRT "unit." Each "unit" included one share of Callable Common Stock of ALRT and two warrants to purchase Ligand Common Stock at an exercise price of $7.12. exercise price = strike price = 7.12 ----------------------------------------------- From the 1-4-99 press release: "The warrants were issued through a Ligand/Allergan Ligand Retinoid Therapeutics, Inc. (ALRT) public offering in 1995 of 3.25 million Units at $10.00 each. Each unit included one share of Callable Common Stock of ALRT and two warrants to purchase Ligand Common Stock at an exercise price of $7.12. The unexercised warrants expire on June 3, 2000."