A current price of 12.06 implies a price of almost $10.96 on the new stock. Do I have that right? I'd like that.
And the stock so far is holding up. I'm kind of surprised it's not getting hit more.
Thanks. Yes I meant for subscribers. It's kind of a catch 22 though. The lack of interest is worrisome but the lower end of the share issuance is a win. Well good luck.
I sent my proxy in with a yes and I subscribed, but the vote I think can be changed. Fundamentally the lower demand is good though, right? Less shares issued - It's what you want from a valuation perspective. But the lack of interest is worrisome. I'm not too knowledgeable with this, but I still think this could be good. What do you think?
I didn't own it. I've subscribed just because in general second steps seem to trade above issue.
Soon - You don't know what you're talking about. No idea.
And, the conversion is not complete.Subscription process is complete, but the shareholder vote takes place 12/15. It could be voted down. Usually not, but could be.
If you own 1000 common you own 1000 rights. You can sell the rights. If you sell at a nickel for instance, that's $50 minus the commission. Or you can call your broker and exercise. You'll buy 250 at 5.
" #$%$ "? The spac unit was priced at 10. Common and warrants are worth about 18 1/2. I wouldn't call it a #$%$
I don't think it was a secret they'd raise money at some point. Raising 165 mil at a price of 14.25 is pretty impressive. And they didn't "distribute" the ownership - It was paid for with real cash.
So far these guys are superstars.
I exercised warrants. For tax purposes, does my common holding period start with the date I exercised? Like an option? So I lose the time I held the warrants for long term tax purposes? Is that correct?
If that's the case, and I think it is, you might be better selling your long term warrants and buying common rather than exercising.
I sold my w's with long term profits so I only have short term left right now but some are close.
Nemo - you know these were called right?
And.. I have a feeling this stock is ready to fly. I don't think 700,000 warrants were really enough to be holding it back, but warrants have been for sale. I think when they're out of the way this is going higher.
Search for kennedy Wilson warrant agreement. March 29, 2010 8k shows expiration amended to 2014. I think yahoo doesn't allow links maybe? my other replies aren't showing here. Bloomberg shows expire 11/2013. I think the company should make an effort to get the correct date out there. They did respond with to an email with the link to the above warrant agreement. I guess I should be satisfied but there's still obviously some uncertainty. The 2011 annual showed 2013 after the date date had already been changed.
Meanwhile the stock acts like it's going to 25.
From 2012 annual : The warrants carry an exercise price of
$12.50 with an expiration date of November 14, 2014. Kennedy
Wilson may call for redemption of the warrants in whole and not in
part at a price of $0.01 per warrant if the share price of its common
stock equals or exceeds $19.50 per share for any 20 trading days
within a 30 trading day period
"they are buying in warrants exercisable at $10,"
Public warrants are exerciseable at 11.50. They mention purchasing warrants in their filings but I'm wondering from whom and why. I don't think they're buying warrants in the open market. Have they said they are or did?
This is a hard one to figure out but I own some warrants.
Someone else had to post something on this board.
I'm not qualified to judge Ted so I appreciate the input.
The way I see it is I'm piggy backing Cubist. They're spending 700 million plus the cvr mostly, I think, for TED. I would trust cubist more than Jeffries, although he did worry me a bit.