I'm confused on this one .. per the CC ,
(1) KMI is to repurchase $350M of stock and/or Warrants? Is this additional $$ or does the $51M spent in the Qtr inclusive ?
(2) Sounded like there are 414M outstanding Warrants ... doing the math this is a 22% drop in outstanding Warrants since issuance ?
This has got to be bullish for Warrant appreciation ... thoughts ?
I'm not sure about bullish. I posted where between the two times KMI hit the strike price of $40, the warrants have dropped a dollar in price. With over 3.5 of the 5 years remaining and less warrants to trade, the price per warrant may be a bit flatter in growth line with less trading volume as they are buying up warrants from traders, right?