Drug Development

Pharsight Preferred Stockholders Elect to Convert Preferred Shares Into Common Stock

Published in Healthcare Finance, Tax and Law Weekly, July 11th, 2007

Pharsight Corporation (BULLETIN BOARD: PHST) , a leading provider of software and strategic services designed to optimize clinical drug development, announced that its preferred stockholders, Alloy Ventures, Inc. and Sprout Group, have elected to convert all outstanding shares of Pharsight's convertible preferred stock into common stock.

The preferred shares were issued in two tranches during two private investment, public entity (PIPE) transactions completed in June and September 2002. The conversion of the preferred shares eliminates the preferred shareholder quarterly dividend rights of 2% in cash or series B preferred shares.

Upon conversion of...

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Source: Healthcare Finance, Tax and Law Weekly (2007-07-11)

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