I did some quick research today, hoping some anons can fill me in.
So DWAC is merging with TMTG? Will DWAC stock become TMTG?
How much ownership and control will Trump have of this organization? The last thing I want to do is buy it and have control shift to the usual big tech types.
I know it has gone up a lot since it opened, I missed the boat on that. But, I am looking to support the vision more than make a quick buck.
Any additional thoughts would be great.
So, regarding warrants, do they automatically convert to shares or what? I'm on Fidelity doing the DIY thing btw.
I think with Fidelity, when the warrant exercise period opens, you'll get a message in both the app and by email. It will have an exercise start date and an expiration date. At some point between the two, you'll have to call in and talk to someone to exercise.
In other warrant offerings, Fidelity has offered a "no cash" exercise option as well (no guarantees they always do this, and other brokers may not offer it). In the "no cash" option, they retain some of the warrants as payment.. so, let's say DWAC is trading at $100 when you exercise, and you have 100 shares.
11.50 x 100 = $1150 you'd need to pony up in cash to get your 100 shares worth $10k, or- Fidelity would hold back 12 warrants (11.5, but you can't buy fractionals, so they always round it to the broker's favor). You get 88 DWAC Class A shares in your account (or whatever it will be called post-merger) and no cash changes hands.
Oh la la. Thanks fren! I’ll wait for the notification (email or app) and call to exercise then.
Now if only GME would finally do it’s thing.