Afraid I don't understand.
If 6 warrants are needed per share, and the exercise price pre-reverse split is $2.5 (6*2.5=15), then why are warrants only selling for $1.7 (6*1.7=10.2; for total price of 15+10.2=25.2), when they shld be selling for at least $2.39 (i.e., ($29.35-15)/6; for total price of 15+14.35=29.35)?
Can you plz explain?
Also, what symbol do the warrants with exercise price $1.78 trade under?
Correct..re: understanding. The numbers inside the parenthesis are old pre-split as reference points. They don't exist as you must multiply each by 6 as I did to get the real numbers $10.78 & 15 warrants per share.The initial warrants were 2.5 per share.
So my trade in mid-March was pretty good (stock was 1.30 to 1.40 that day), of course pre-4/3 announcement. Warrant then went from .25 to .10-.15 when it dipped below $1. You can do the math to see that the over-value in the $1.75 current warrant price is still there versus exercise and sell net. To be equal right now, the warrant price would be $1.25, not $1.75. You may recall a warrant trade of $1.85 when stock wason way to $40+. So today's price is very good.