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Biotech / Medical : ARIAD Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: Dr. John M. de Castro who wrote (470)	2/7/1999 2:30:00 PM
From: Jongmans	Respond to of 4474

Dr de Castro, Please indicate me where I can find your 90%. I can,t find it and I came to a different conclusion. The excerpt I've given is very clear. Why you don't mention the ,possibly, second and third tranche of C preferreds (in total $10 or 15mln )on base of these 6 mln shares? Martin

To: Dr. John M. de Castro who wrote (470)	2/7/1999 2:31:00 PM
From: rkrw	Read Replies (1) \| Respond to of 4474

John, The institutional investors names, contact persons and phone numbers are all included in the filing documents, I'd suggest giving them a call and asking if they are manipulating the shares. I guess I mistakenly thought that this was why they registered the additional shares, within the light 8K readings: "Under the Securities Purchase Agreement, dated as of November 9, 1998, between the Company and the Investors (the "Purchase Agreement"), subject to certain conditions and limitations, the Company will be required to sell and the Investors will be required to purchase an additional aggregate of up to 5,000 shares of Series C Stock no later than the Convertibility Date. Also under the Purchase Agreement, the Investors will have the right, commencing approximately seven months after the Convertibility Date, to purchase one additional share of Series C Stock for each share then held by such Investor and each share that had been converted prior to such time at the Maximum Price, if any, up to an aggregate of 10,000 shares of Series C Stock. The Purchase Agreement further provides that, during a six-month period commencing approximately seven months after the Convertibility Date and subject to certain conditions, the Company will have the right to require the Investors to purchase up to an aggregate of 5,000 additional shares of Series C Stock. Under certain circumstances and at certain prices, the Company may elect to redeem any shares of Series C Stock that are presented for conversion."