Question # 1 : How many Class A warrants were redeemed prior to being called?
Each Class A warrant entitles its holder to purchase one share of the Company's common stock at an exercise price of $7.15..................... The Class A warrants and Class B warrants are exercisable at any time until their expiration on May 3, 2015...............The Class A warrants and Class B warrants are redeemable at the Company's option for $0.25 upon 30 days' prior written notice beginning November 3, 2010, provided certain conditions are met. The Class A warrants are redeemable provided that the Company's common stock has closed at a price at least equal to $8.80 for at least five consecutive trading days..................
Guess this company doesn't want anyone redeeming their warrants at $7.15 and then dumping the stock. Have some Class A warrant holders already been doing this?
108K of the Class A has already been redeemed. The logical assumption is that most, if not all, the SANWW warrants outstanding (they went hyperbolic for good reason) will exercise @7.15 as opposed to .25 redemption.
As to who the holders are, I don't particularly care because from my viewpoint, most will hold the stock and those that sell will easily find buyers and also they will ultimately regret it mainly because;
based on 1.3M new shares max, roughly 10M shares outstanding (incl last offering) with 18M-20M in cash on balance sheet. Major growth initiative 'heavy lifting" already in place and now a rock solid balance sheet.
Cash will only enhance SANW rapid growth story, no question about it!