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Granite City Food & Brewery Ltd. Message Board

  • bmkarow bmkarow Nov 22, 2005 5:03 PM Flag


    Ok, I didn't do enough research before I asked my question. Sorry for that last message. Okay, so I found the symbol but how do I know what the exercise price for the warrants(options?)? Is it the $4.34 or was it $5.00?

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    • The publicly-traded GCFBW "Class A" warrants have nothing to do with a $4.80 exercise price. The GCFB terms are: 1 warrant + $4.66 cash = 1.072962 shares received in return. Call GCFB's Investor Relations department if you have any questions.

      When you buy these warrants, you pay your purchase price (whatever you bought them at) plus commissions charged by your broker. If you later choose to exercise warrants, expect your broker to charge you a one-time administrative charge ($25-30 or so, I'd expect; discuss it with your broker up front) for that particular transaction. Each separate request to exercise warrants entails an admin charge routinely. Better to exercise 1500 warrants at once rather than 500 three times (500 + 500 + 500) if you want to minimize such admin charges.

    • GCFBW warrant terms (Class A warrants):

      1 warrant + $4.66 cash = 1.072962 shares of GCFB common stock issued to you

      Go to and look up the company's filings on this topic.

      • 2 Replies to kdm57
      • "Each Class A Warrant entitles the holder to purchase, at any time until December 15, 2005, 1.072962 shares of common stock at an exercise price of $4.66 per share, subject to customary anti-dilution adjustments"

        4.66 PER share. They entitle you to 1.07 shares but the .07 will cost you about .33 which means the 1.07 will cost you 5.

        In other words, the the terms were adjusted because of the anti dilution provision to be 1 warrant plus the original 5 dollar ex price now buys you 1.07 shares. Big difference, which explains where they're trading.

        They're not worth what you and others are claiming.

      • Ok, so I am going to put in a buy order for 300 warrants. If I do this I will pay $45 + $7 commission for scottrade. From there I will pay 300 x $4.66 = $1398 + $7 to issue the shares total of $1,457/300 =$4.85 per share. Does that seem right?

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