Orchid Converts Preferred Stock as Initial Phase of Capital Restructuring Effort

Feb 10, 2004

NEW YORK, Feb. 10 (GenomeWeb News) - Orchid BioSciences today said that it has converted all of its outstanding convertible preferred stock into common stock as the first step in a broader effort to restructure its capital position.

As a result of the preferred stock conversion, Orchid had around 94.7 million common shares outstanding as of Feb. 9.

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