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I think that sounds about right. And the expiration date is in 2027.
Looks like we're going to have a great day again!
Good Luck!!!
Totally agree! The thing that sold me was that they were to be majority owned by by ICE, the owner of the NYSE and many other exchanges!
Heard that BAKKT may also be involved with blockchain technology dealing with NYSE stock trading.
Can't imagine what would happen after that PR comes out!
That's awesome, great trade on that penny stock, and GREAT profits on BKKT!
Keep it up, you won't be a poor retired handy man much longer!
I have accumulated 99k warrants since day 2 of the DA announcement in Jan...so yes I am holding a few :)
I updated my last msg to correct some confusion, so reload it to see my updates...
No no no!!!!
It's a 1-for-1 conversion if the company initiates the redemption!
It's a .361 factor conversion only if the warrant holder initiates a redemption and wants the cashless option.
If the warrant holder initiates the redemption and can pay the 11.50 per share (normal redemption) then it stays a 1-for-1 deal!!!
Some more warrant info:
There has been misinfo on the other board about there being a .361 max conversion on the warrants. I dug into the details and came to this conclusion:
1> The normal redemption is the warrant holder will pay $11.50 per warrant and receive 1 common share. This is initiated by the company or the warrant holder during the exercisable period.
2> The company can also give the warrant holder the option to do a cashless redemption, if the company is the one that initiated the redemption (called in the warrants). In this case the $11.50 is not paid, but the warrant holder receives only a partial common share, say 90% of a share for example. The company does the math and guarantees that partial share is the same value it would have been under a normal redemption.
3> This is the interesting case that uses the .361 conversion factor. It's only if the warrant holder requests a cashless redemption without the company initiating the redemption! The warrant holder can do this whenever they want after the lockup period, but they won't get the same value they would have if they did a normal redemption! Again, this .361 only applies for a warrant-holder-initiated-cashless-redemption!
MYSTERY SOLVED!
There are a lot of details involved as far as exp date, exercise costs, redemption, etc. but you can also just trade them like any other ticker without getting to that point.
I would be very satisfied with a cashless redemption though if it gets to that point.
That's where they figure out a corresponding # of shares to grant you in exchange for your warrants. No need to come up with the $11.50 per like a normal redemption.
Just my opinion of course!
I think it's just a preview of the gap up Monday morning, but who knows...
Nice! Great job!!!
What a day! Happy Friday Everyone!!!
I went back to my old IHUB msgs and see on Jan 10th I posted that I bought 19k warrants @ $4.40 per.
I eventually bought the average into the 3's when I had about 50k, and ended up with an avg cost of $2.84 when I was fully loaded at about 102k warrants. That was after buying a good bit around a buck.
I then unloaded 3k last Friday (Doh!) the day before MASSIVE MONDAY!
Another warrants play I'm in is BREZ if you're interested...
BTW, all my BKKT warrants are in my 401k self managed trading accounts (both Roth and Traditional).
I'll still be living paycheck to paycheck for awhile. Probably a few more months until I actually retire...
Told another boss about it earlier this week about my retirement plans. All he wrote back was..."It's good to have options!".
I wonder now if it was a play on words and maybe he bought some call options???
Haha! I'm sure you'll do well enough with the warrants you have without selling family members!
I told my boss about VIH in the spring and he also went in pretty heavy. Then it dropped pretty significantly in the summer and thought I'd be fired! But...he did much more DD than me, and also doubled down during the drop. He didn't go all in like I did though.
Needless to say, if I wasn't putting in my early retirement papers next week, my job would be pretty secure because he's also making out very well!
BKKT merged officially with VIH (a SPAC) on Oct 15th.
Prior to that date the symbol was VIH. All commons and warrants transferred from VIH/VIHAW to BKKT/BKKT WT on Mon Oct 18th.
It was the VIHAW warrants that I began accumulating back in Jan.
I'm not sure when the lock-up period ends, but I think it's at least 30 days from the merge.
The warrants can be called in if they trade over $18 for 20 out of 30 days. A cashless redemption at that point would be fine with me. Not sure also if that 20 outta 30 days already started or not though. Maybe that doesn't start until the lock-up period ends?
I think I'm just a blind squirrel that finally found a nut!
I sorta have google to thank for this. The day after they announced the DA in Jan I brought up a web browser on my phone and it had a headline about VIH. Definitely caught my eye and started accumulating that morning.
Honestly had no clue what was going on behind the scenes or how it was going to be a disruptive technology, etc.
Good luck to you all, and I end by saying thanks to the idiots who shorted this under $10!
Still holding my 99k warrants...just sayin!
I believe it'll be 100+ within 30 days.
And I may wait for BAKKT to do a cashless redemption on my 99k warrants and hold the commons at that point. That could be an even likelier outcome...
I don't think a forward split will happen within the next 30 days, and I'll probably have moved most of the profits elsewhere anyway.
I agree about the warrants being better!
I've accumulated 99k of them since day 2 of the DA announcement back in Jan.
I'm going to work today to clean out my desk....:)
I may put in some sell orders too at $50, but for my warrants! $$$$$$
BKKT is for real, and like buying Amazon or Tesla when they were $10 per!
GLTA!
I didn't sell a single warrant, but maybe I should have.
It's got a good chance to run to 100+ though now that the merge is final.
The Mastercard, Fiserv, and Google news was great, but what will happen when they announce partnering with Apple!
Apple is announcing earnings tomorrow, can you imagine if it is Apple that announces partnering with BAKKT???!!! Could this run today be based on that possibility?
Warrants at that point could be $50+, and still be lagging!
Still in BKKT (old VIH)?
Me and my 99k warrants are, and our day came on Mon just like you said it would one day!
Was up $1.5m on in the AH but can't trade AH with my broker. Dipped a lot yesterday (took a screenshot on my phone though just for fun)...but it looks like the fire's been lit again today!
Awaiting massive news about partnership with Apple. Maybe that's why it's running again?
I still have some ATER too, so hope it's day is coming as well.
GLTU!
Can you imagine if it's Apple that announces they've partnered with BKKT as part of their earnings report tomorrow???
Maybe that's why BKKT hasn't announced it???
And maybe yesterday and today were to allow the shorts a chance to cover???
I'm with you on the technology thing, and more importantly, also being a follower of Christ!
I haven't cleared my phone cache, but did clear some major cash the other day on my BKKT warrants! :) Didn't sell when I should have though but believe it will have a bigger run when they announce their partnership with Apple (or Apple announces their partnership with BKKT tomorrow when they release earnings perhaps?).
BKKT is a crypto play, but much more than just a wallet, etc. The announcement on Monday was they partnered with Mastercard and Fiserv....if anyone's interested :) They are majority owned by ICE...the owners of the NYSE! They also are backed by Microsoft, Starbucks, major airlines, etc, and just finalized their merger on Oct 18th (used to be a SPAC called VIH).
I'll be praying!
Logged out and logged back in and it's still there.
Granted there are any #s showing up except my # of shares.
I just used my laptop to log into the TD website, and it does still show the CUSIP there.
So it's just on my TDA phone app where it's showing UWBKQ.
Not sure what to make of it, if anything...
Fred, I noticed my TDA Roth and Traditional accounts are now showing UWBKQ instead of the CUSIP #. This change just happened today.
Think it's a sign of anything????
I wish, but I don't think that applies as much while the warrants are in a lockup period when they can't be exercised (yet).
Seems the warrants for DWAC stayed in the 20s while DWAC was in the 80s, so I'm assuming BKKT would be similar.
With that said though, maybe BKKT warrants will begin hanging closer because of the AWESOME company it is!
Yes sir! I've been touting the warrants off and on since Jan.
BKKT could very well jump to $100 or more tomorrow, which should hopefully put the warrants at at least $30 per!
I don't have PM. The symbol for the warrants are are BKKT+ in TDAmeritrade.
Thanks for your tip!
Made $1.5m today with my 99k warrants! Expect more fun tomorrow!
And early retirement letter submitted tomorrow as well!
Been loading warrants since they announced the DA in Jan!
BKKT!!!! Watch it bust through $20 this afternoon!
Still holding my 99k warrants with a tight grip!
BKKT!!!! Watch it bust through $20 this afternoon!
Still holding my 99k warrants with a tight grip!
Ok, it's all making sense now. I copied this from the LEHJQ Prospectus:
"This is a public offering by Lehman Brothers Holdings Inc. of 66,000,000 depositary shares, each representing 1/100th of a share of 7.95% Non-Cumulative Perpetual Preferred Stock, Series J. Each depositary share entitles the holder, proportionately, to all rights, preferences and privileges of the Preferred Stock represented by that depositary share. We will deposit the Preferred Stock with Computershare Trust Company N.A., as depositary. The proportionate stated value of each depositary share is $25.00."
and
"We may redeem the Preferred Stock on any dividend payment date on or after February 15, 2013, in whole or in part, at a redemption price equal to $2,500.00 per share of the Preferred Stock (equivalent to $25.00 per depositary share) plus any declared and unpaid dividends."
So as you said, the underlying Series J is $2500 per, but the shares that traded on the open market were only $25 per.