Sorry, but it is a day (life?) of senior moments today. Wouldn't what you say be true if these were set up to trade as units - 1share/1warrant, which they were not.
All I see them as is a possible gift to holders at the time.
If they don't trade together why would shorts have to supply warrants?
It isn't like they were attached to stock owned on a certain date.
Essentially we got a dividend. A dividend with no current value.
"We issued the warrants on October 15, 2013 as a dividend to holders of record of outstanding shares of our common stock as of a record date of September 16, 2013.
Holders of shares of common stock on the record date were issued one warrant for every ten shares of common stock owned on the record date, with the actual number of warrants issued to each stockholder rounded to the nearest whole number and without the payment of cash in lieu of warrants to purchase fractional shares."
I've received no reply from MHR yet, but did find what I had seen, but failed to find previously:
"The warrants agreement currently provides that the warrants will generally be exercisable in whole or in part beginning on the later of (1) September 1, 2014 or (2) the date that a registration statement on Form S-3 has been filed with and declared effective by the SEC with respect to the issuance of the common stock underlying the warrants, and thereafter until April 15, 2016, which we refer to as the expiration date. The amended warrants agreement will provide that the warrants will become exercisable on the date of effectiveness of the registration statement of which this prospectus is a part and will remain exercisable until the expiration date or the earlier redemption of the warrants, subject to our right to suspend the exercisability of the warrants as provided below."
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