I have the warrants.. obviously too much of a good thing at the 5yr $11.50 exercise the way it looks now.
if called early, is it likely the share can be bought for $11.50? just much sooner? this is weird shit.
looking at the info below, take your best shot at what may happen?
realmoney.thestreet.com
The VectoIQ-Nikola Deal Certainly 'Warrants' Your AttentionWhat the heck is going on with the VectoIQ stock vs. the VectoIQ Warrants? Let's tackle it right here.
"..One share of VectoIQ will translate to one share in the new company, to be called Nikola. One warrant in VectoIQ will become one warrant in Nikola. The warrant gives the hold the right to purchase a share of the underlying security at $11.50 for five years and can be exercised 30 days after the close of the business combination.
But there is a caveat to this: If the stock were to close above $18 for 20 out of 30 days following the business combination -- which means when the company officially becomes "Nikola" -- the company can redeem the warrants for what essentially amounts to .01. If called for redemption, the warrant holder can allow it to be redeemed (no one would), sell the warrants on the open market, or exercise the warrant and buy shares..."
investorshub.advfn.com
"Warrants ...
Note 3—Initial Public Offering
Pursuant to the initial public offering, the Company sold 23,000,000 Units (including 3,000,000 Units subject to the underwriters’ over-allotment option) at a price of $10.00 per Unit. Each Unit consists of one share of common stock (such shares of common stock included in the Units sold in the initial public offering, the “Public Shares”), and one redeemable warrant (each such warrant included in the Units sold in the initial public offering, a “Public Warrant”). Each Public Warrant entitles the registered holder to purchase one share of our common stock at a price of $11.50 per share, subject to adjustment, at any time commencing on the later of 12 months from the closing of the initial public offering or 30 days after the completion of the initial Business Combination...
The Company may call the Public Warrants for redemption:
· in whole and not in part;
· at a price of $0.01 per warrant;
· upon a minimum of 30 days’ prior written notice of redemption; and
· if, and only if, the last reported closing price of the ordinary shares equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.
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