You get the right to purchase 50 shares in the new company. Regardless of what the market price is at the time, you'll "buy" the shares for $11.50.

(In wall street-speak, you're "exercising" your warrant, sort of like exercising an options contract, or another way of looking at it is the cost to convert your warrant to a share is $11.50.)

Edit: BTW, that $11.50 number is not universal, it's what they set the price at in the SEC filing. https://www.sec.gov/Archives/edgar/data/0001849635/000110465921071982/tm2117087d1_s1.htm

You get the right to purchase 50 shares in the new company. Regardless of what the market price is at the time, you'll "buy" the shares for $11.50.

(In wall street-speak, you're "exercising" your warrant, sort of like exercising an options contract, or another way of looking at it is the cost to convert your warrant to a share is $11.50.)

Edit: BTW, that $11.50 number is not universal, it's what they set the price at in the SEC filing.

You get the right to purchase 50 shares in the new company. Regardless of what the market price is at the time, you'll "buy" the shares for $11.50.

(In wall street-speak, you're "exercising" your warrant, sort of like exercising an options contract, or another way of looking at it is the cost to convert your warrant to a share is $11.50.)