IMVHO it is now an issue of "demand".....or the need for a market. If traded now they would go for dimes or quarters and there isn't a market maker interested in creating two new markets to trade about 1.5 outstanding warrants in each class. USCR has 11.9 million shares outstanding and today is the first day of any real volume. When USCR moves up in price and starts having sustained volume, then you will see the warrants trade. It's not worth anyone's time to make it happen now...we probably need to see USCR at $15+ before you see the warrants trade. Could be a long time. Good news is that TXI only missed a new 52 week high by 33 cents today. Up almost $2 at one time. Smart money is starting to move into sector. Interesting how the controlling institutions let USCR crash to the point they flushed out over 200,000 shares today that was in weak hands. We will see USCR move up nicely when the powers that be decide to drive the price up just like they drove it down. Their convertible bonds aren't in the money till $10.50. Smart money says TXI is a buyout candidate. USCR could quickly become one as well with their cheap price and cleaned up balance sheet. DaninFW
I have heard from the CEO that the warrents will not be registered, nor do they have plans on registering them, and one will not be able to trade them. You can only excercise them to purchase stocks once the $26 stock price is reached.