Medicis Pharmaceutical Corp. has netted $14 million throughthe redemption of its 10.2 million class A warrants outstanding.The warrants were exercised at $1.50 to purchase one share ofcommon stock (NASDAQ:MDRXA) and one class B warrant. TheB warrants are exercisable at $2.75 for one share of stockthrough March 28, 1995. The stock closed at $3, down 3 cents,on Monday. After the redemption, the New York developer ofdermatology products has 40 million shares outstanding.
(c) 1997 American Health Consultants. All rights reserved.