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Granite City Food & Brewery Ltd. Message Board

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  • GCFBW warrant terms (Class A warrants):

    1 warrant + $4.66 cash = 1.072962 shares of GCFB common stock issued to you

    Go to www.sec.gov and look up the company's filings on this topic.

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    • Ok, so I am going to put in a buy order for 300 warrants. If I do this I will pay $45 + $7 commission for scottrade. From there I will pay 300 x $4.66 = $1398 + $7 to issue the shares total of $1,457/300 =$4.85 per share. Does that seem right?

    • "Each Class A Warrant entitles the holder to purchase, at any time until December 15, 2005, 1.072962 shares of common stock at an exercise price of $4.66 per share, subject to customary anti-dilution adjustments"

      4.66 PER share. They entitle you to 1.07 shares but the .07 will cost you about .33 which means the 1.07 will cost you 5.

      In other words, the the terms were adjusted because of the anti dilution provision to be 1 warrant plus the original 5 dollar ex price now buys you 1.07 shares. Big difference, which explains where they're trading.

      They're not worth what you and others are claiming.

      • 2 Replies to wwwwaitnomore
      • Greetings,

        The information that Kdm provided..and as well I have stated many times...matches completely with the information about the warrants which I received directly from Investor Relations of GCFB.

        Fred.

      • You are correct here. Previous guidance I had received from IR formed the basis for my previous statements on the warrants. I stand corrected.

        The way it has worked in practice with the GCFBW warrants:

        1200 warrants x 1.072962 = 1287 full shares

        1287 shares x 4.66 exercise price = $5,997.42 cash debited to one's account for 1287 delivered shares (expect $25-30 in brokerage fees for a transaction like this).

 
GCFB
1.650.00(0.00%)Sep 12 10:31 AMEDT

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