Article: Plan to convert preferred stock to common stock announced.

2002 DEC 25 - (NewsRx.com & NewsRx.net) -- Essential Therapeutics, Inc., (ETRX) announced that it has entered into separate conversion agreements with certain holders of its outstanding shares of Series B Preferred Stock.

The holders of Series B Preferred Stock that have executed the conversion agreements have agreed, subject to obtaining the requisite stockholder approval and the satisfaction of certain other closing conditions, to vote all of the outstanding shares held by them in favor of converting all outstanding shares of the company's Series B Preferred Stock into common stock.

Each outstanding share of Series B Preferred Stock shall convert into ...

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