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Advanced Battery Technologies, Inc. Message Board

  • covnvest covnvest Jul 1, 2009 10:12 AM Flag

    Warrant trigger today?

    Today will be very interesting to watch the time and sales chart. First half hour was 43K shares traded and it's right on the 4 bid 4.01 ask price. The warrant trigger calls for closing over 4 with 400,000 shares. I take that to mean consequetive days. Small investor is in this picture with a lot of 100 and 200 shr orders.


    Question is. Will today be a third day for the trigger or do we fall a tad short?

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    • We have back to back warrant offers and it's been confusing. China posted this:

      From the 28 May 8K:

      "If, during the life of the Class B Warrants, the closing bid price for Advanced Battery Technologies common stock exceeds $4.75 for ten consecutive trading days with at least 400,000 shares trading volume, then Advanced Battery Technologies is entitled to force the holders of the Class B Warrants to exercise the Warrants and purchase all 2,638,523 shares."

      I thought I had seen a $4 strike but didn't archive the record. I saw the $4 price for convertible preferred stock. Can you copy the segment and post for the $4 warrant?

    • Warrant conv. prices as follows:
      A=$4.92
      B=$4.00
      C=$5.68

    • ABAT at 4.01 at 16:01. So if I can find the ref, we now have three days on the first trigger watch. Enough of a volume at the end to hold. It began to step up with 75min left in the trading day.

    • You will also note that the MM will put the bid and the ask at the same price at times to counter this BS if it goes on for too long.

      Yes thia can also be caused by a must fill order as well.

    • Idiot bashers want to buy ABAT cheap. It looks as if it is forming a classic pennant pattern on the chart. Often pennants presage upside breakouts. I am holding all my recent buys at an avg. of 3.97

    • Is this the "trigger" scenario to which you are referring?:

      From the 28 May 8K:

      "If, during the life of the Class B Warrants, the closing bid price for Advanced Battery Technologies common stock exceeds $4.75 for ten consecutive trading days with at least 400,000 shares trading volume, then Advanced Battery Technologies is entitled to force the holders of the Class B Warrants to exercise the Warrants and purchase all 2,638,523 shares."

      http://biz.yahoo.com/e/090528/abat8-k.html

      From the 15 June 8K;

      "If, during the life of the Class B Warrants, the closing bid price for Advanced Battery Technologies common stock exceeds $5.00 for ten consecutive trading days with at least 400,000 shares trading volume, then Advanced Battery Technologies is entitled to force the holders of the Class B Warrants to exercise the Warrants and purchase all 1,750,000 shares."

      http://biz.yahoo.com/e/090615/abat8-k.html

      Both sets of warrants will, I believe, expire on or about 25 July (30 days following shareholder approval of the increase in common stock), so, for forced exercise of all warrants, it looks as though ABAT would need to close at not less than $5.00 per share, and maintain a volume of at least 400,000 shares each day, for ten consecutive days; the last window for this looks to be 13 through 24 July.

      • 2 Replies to china_s2
      • China, I don't see any other reference so I believe your post is the operative one on the share price. As far as expiration goes though, here's the beginning part of that:

        "The Class B Warrants will permit the holders to purchase up to 2,638,523 shares of common stock from Advanced Battery Technologies for a price of $3.79. The Warrants expire on the later of (a) November 25, 2009 or (b) 30 days after the effective date of the registration statement referenced below or (c) 30 days after the shareholders of Advanced Battery Technologies approve an increase in the authorized common stock."

        So this paragraph says the later of all these events. That means by Nov.25, 2009. They can purchase them at any time for $3.79 but must purchase if the $4.75 price is maintained for 10 trading days if ABAT chooses to force the purchase. I was incorrect for the $4 price. We have some to go but I'm thinking the Q2 report will do that.That's mid Aug. We have the Fidelity post calling for Aug. 12th. The start of the trigger watch was premature.

      • I didn't look it up China, but I'm thinking there was a ref to $4 and no less than 400K shares I assume over 10 consecutive trading days. Could it be Class C shares? It also carried a note of need to be no later than Nov. 30 this year.

        I thought it interesting how the requirements were different for different share prices at the time.

 
ABAT
0.355-0.035(-8.97%)Apr 17 3:57 PMEDT

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