Alpha 1 Biomedicals Inc. (NASDAQ:ALBM) has revised certainterms of its Class B warrants. The changes are a reduction inthe exercise price to $10 per share, a reduction to $19 of theexercise price, and a reduction to $25 of the redemption triggerprice of the Class C warrants that are issuable upon the exerciseof the Class B warrants and an extension to March 9, 1993, ofthe redemption date for the Class B warrants.
For each Class B warrant exercised, holders will receive oneshare of common stock and one Class C warrant. Warrants notexercised by the deadline will be redeemed for 10 cents eachby the company.
The Class C warrant is a four-year warrant that entitles holdersto purchase one share of common stock at $19 per share. TheClass C warrant is redeemable by the company after Feb. 28,1994, at a price of 10 cents each if the average closing price ofthe common stock exceeds $25 for 20 consecutive businessdays.
Alpha 1 Biomedicals of Bethesda, Md., is engaged in developingpharmaceuticals for chronic viral diseases, immune disordersand cancer.
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