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Re: StrategyTrader post# 14688

Sunday, 01/20/2019 9:20:07 AM

Sunday, January 20, 2019 9:20:07 AM

Post# of 37346
the warrants expire on december 15, 2019. subject to certain "adjustments" the warrants have an exercise price of $28.41. at the time the warrants were issued, there were 500k shares authorized with slightly more than 106k issued.

seems the best best for being able to truly cash in on these warrants (other than just flipping based on trading price) would be from the change of control/reorganization provision which would still require the preservation of common shares. (cut/paste below):
__________________________________________________________________

Business combinations. In case of any merger, consolidation, statutory share exchange, amalgamation, tender offer, recapitalization, reorganization, scheme of arrangement or similar transaction that requires the approval of the Company’s stockholders (collectively, a “Business Combination”), the right of a holder of a Warrant to receive shares of Common Stock upon exercise of a Warrant shall be converted into the right to exercise such Warrant to acquire the number of shares of stock or other securities or property (including cash) which the Common Stock issuable (at the time of such Business Combination) upon exercise of such Warrant immediately prior to such Business Combination or reclassification would have been entitled to receive upon closing of such Business Combination or reclassification.

Sears’s authorized capital stock consisted of 500,000,000 shares of common stock of $.01 par value per share, of which 106,482,832 shares were issued and outstanding as of the date of this prospectus supplement, and 20,000,000 shares of preferred stock of $.01 par value per share, of which no shares were issued and outstanding as of the date of this prospectus supplement. The authorized shares of any class of stock may be increased or decreased, as the case may be, by the affirmative vote of the holders of a majority of the outstanding shares of the stock entitled to vote

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