Hey TXHockey: I was a bit confused about that t
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Posted On: 11/10/2023 10:51:39 AM
Hey TXHockey:
I was a bit confused about that too as the number of warrants I hold wasn't reduced and the price was never increased when the stock split.
Don't quote me on this, but my understanding is that the number of warrants you hold did not decrease, but the number of shares each warrant in entitled to has been reduced based on the following paragraph in the August quarterly:
"The number of shares of Common Stock subject to outstanding options, warrants, and convertible securities were also reduced by a factor of forty and the exercise price of such securities increased by a factor of forty, as of April 18, 2023"
In other words, as I see it with my limited understanding, is that instead of exercising your warrant and getting one share per one warrant, you would need to exercise 40 warrants to get one share, with the same strike price of around $3.50 or so.
I could be way off base, though, but haven't been able to find a better explanation.
Best...
I could be totally wrong
I was a bit confused about that too as the number of warrants I hold wasn't reduced and the price was never increased when the stock split.
Don't quote me on this, but my understanding is that the number of warrants you hold did not decrease, but the number of shares each warrant in entitled to has been reduced based on the following paragraph in the August quarterly:
"The number of shares of Common Stock subject to outstanding options, warrants, and convertible securities were also reduced by a factor of forty and the exercise price of such securities increased by a factor of forty, as of April 18, 2023"
In other words, as I see it with my limited understanding, is that instead of exercising your warrant and getting one share per one warrant, you would need to exercise 40 warrants to get one share, with the same strike price of around $3.50 or so.
I could be way off base, though, but haven't been able to find a better explanation.
Best...
I could be totally wrong
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