Hey Jimmy Lipper, so I got my LAZRW exercised yesterday (6Feb, turned into LAZR). On the 4Feb I received this alert from Etrade:
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Re: Wts Luminar Technologies Inc
Cusip: 550424113
Please call the E*TRADE Corp Actions Team 1-800-ETRADE1 Monday-Friday 8 am-6 pm Est. by cut off 03/03/21 to submit your instruction.
The warrants have been called for redemption. Redemption date 03/05/21.
Redemption price: $0.01 in respect of each public warrant.
As an alternative, holders may exercise their warrants. (OPT 01 - Exercise)
1 warrants = 1 share of Luminar Technologies Inc common stock (cusip 550424105) at $11.50 per share.
Funds must be available in account.
Holders are urged to refer to the Warrant Agreement dated January 31, 2019 and the Notice of Redemption dated February 3, 2021 for the complete terms and conditions.
See continuation on page 2
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Re: Wts Luminar Technologies Inc
Cusip: 550424113
By submitting exercise instruction, holder acknowledges the following conditions:
(1) That the common stock issued from the warrant exercise shall not exceed beneficial ownership limitations, as defined in the governing documents of the security and
(2) That the instruction is being submitted at the beneficial owner level.
Any public warrants that remain unexercised will be void and no longer exercisable, and all rights there under and in respect thereof will cease, except for the right of the holders thereof to receive the redemption price of $0.01 in respect of each such public warrant.
There are no withdrawal privileges.
There is a two business day protect period.
Response after cut off is best effort.
I called (same day), told them I wanted to exercise and that was it, cost me a reorg fee of $38.00 and the exercise price of $11.50 a share (this can only be paid from non-marginable cash balance). The most difficult part was the long hold part, took about 40 minutes for a 3 minute conversation. So, can't really go by the S1, the brokerages need to to wait for clearance from the DTC and some other stuff to happen. Etrade said once all the clears then they will send notifications out to the customers. Anywho, just thought I'd share.
