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 $10,"
Public warrants are exerciseable at 11.50. They mention purchasing warrants in their filings but I'm wondering from whom and why. I don't think they're buying warrants in the open market. Have they said they are or did?
This is a hard one to figure out but I own some warrants.
Someone else had to post something on this board.
I'm not qualified to judge Ted so I appreciate the input.
The way I see it is I'm piggy backing Cubist. They're spending 700 million plus the cvr mostly, I think, for TED. I would trust cubist more than Jeffries, although he did worry me a bit.
Thanks for the answer. Every once in a while you do get an intelligent response on yahoo. Your answer makes sense.
The short term loss this year would make these a little more attractive to me even though it's really a wash between taxes now or later. Oh well. I like the cvr idea but It's a #$%$ shoot for me. Having no idea of the odds, I'd like to buy it lower. And even at 20 cents they seem like a reasonable shot. I own Cubist/Adolor cvr's btw and I'm hoping for a payoff on those someday.
Thanks. Good luck.
A buyer today pays 13.72. Gets paid 13.50 plus the cvr in let's say November.
Does that buyer, according to the IRS, have a short term loss of the full 22 cents? And a cost for the cvr of zero?
I can guess yes, but does anyone know?