Yes, warrants are like a call contract (in which you buy the right to purchase stock at an agree price at a future date) but you buy them individually instead of a contract for 100 shares and they have an expiration that is several years out. As described above the warrant is to be able to buy a real share for $11.50 and you'll be able to do that even if the stock were to be say $100 in the future. Think of the warrant like you bought a big discount coupon for the future stock.