Shorting stocks: High fliers Message Board

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Strategies & Market Trends : Shorting stocks: High fliers

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To: Q. who wrote (609)	12/22/1998 4:58:00 PM
From: Q.	Read Replies (1) of 709

Christian, BFLY fell 8% when they announced the warrant call today. They announced it as soon as they met the required 20 day price threshold. Now that I bothered to check, I see that they did indeed file a prospecturs to register the shares to be created by the new warrants. It can be seen here: edgar-online.com Re. timing, I don't know whether the registration has yet been deemed effective by the SEC. Once it is effective, then the co. will then send written notice to the warrant holders, giving them 30 days. During those 30 days I would expect some pressure on the stock. The number of warrants is really quite significant: with only 2.7 M shares outstanding, the number of warrants at around 1.5 M should allow a pretty decent hit on the stock price.

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