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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (122205)4/21/2010 4:17:17 PM
From: Madharry  Read Replies (1) of 132070
 
Here is the question: you own warrants in a closed end fund. the close end fund has a nav of 15 and a diluted nav of 13.5. it trades at $10.50. the last date for exercising the warrant is approaching. the warrant allows you to purchase one unit of the closed end fund for $12 and would then give you a new warrant that gives you the right to purchase 1/2 unit for $7.50 for two years. Do you exercise the warrant or not?
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