Yes you are correct. This is due to the 1 for 10 reverse split on the common stock after the warrants had already been issued. The strike of $106 looks a lot more achievable today with almost 6 years let to go and with the stock at over $46.00 today. Picked up most of my class A warrants in the low and mid 30 cent range when the stock was below $30. After all Bank of America went from near $5 to over $12 in a year.
Are you certain about that? With the 10:1 reverse split the strike price adjusted from $10.60 to $106. I have not been able to find a reliable source that confirms that in addition to the strike adjustment 10 warrants are needed to purchase each share. Can you post a link, please?