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Technology Stocks : IFLY - travel sales on the web pure play

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To: Secret_Agent_Man who wrote (97)	4/10/1998 10:07:00 AM
From: eric deaver	Read Replies (2) of 4761

Maybe I'm missing something but why would anyone ever pay more than $3.75 / share (assuming the company calls at $10.00) for the warrants. Lets say you pay $4.00 / share for warrants and you have to pay strike price of $6.25 to exercise. That a total of $10.25 / share. If the company calls at $10.00 you must exercise and you would then be paying $10.25 for a $10.00 stock. I do not see the warrants ever going above $3.75 unless the company does not call. Eric

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