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biomaven0

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biomaven0

Re: pollyvonwog post# 110490

Wednesday, 12/08/2010 5:05:38 PM

Wednesday, December 08, 2010 5:05:38 PM

Post# of 257268

to cover excess demand



Not exactly excess demand - more like its the underwriters will buy these if and only if the market price exceeds the offering price at some point during the term of their option and they can clip the spread.

Peter
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