Does anyone know when the last day is to buy warrants?
Also am I understanding correctly that warrants are almost “free money” given that you can buy them for 27.70 and then I believe 11.50 a share at a later date when it is trading at 66 a share? Or is there still risk involved?
This is my first time ever having warrants so I want to get a professionals understanding of it if possible!
So, can we purchase a share at $11.50 each or are there other factors?
"Each whole warrant entitles the holder thereof to purchase one share of our Class A common stock at a price of $11.50 per share, subject to adjustment as described herein. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The underwriters have a 45-day option from the date of this prospectus to purchase up to an additional 4,500,000 units to cover over-allotments, if any."
'subject to adjustment'
Meaning that there may be an adjustment if shares are split or dividends issued etc. Splits and dividends affect the price of the common shares so an adjustment may be made in those instances. To my knowledge, none of that has taken place with this security.
*Not advice. Please read the SEC filing for terms.
Thank you
Probably smart to just buy out the warrants right after the 30 days is up then.