Cytodyn Inc (CYDY)

[that_little_voice]

Not necessarily. They can also do a cashless exercise. Thus avoiding putting up money to exercise.


1,000,000 warrants with an exercise price at $1 and stock trading at $3. Would cost him $1m to exercise them all or, he could forfeit 333,333 warrants (1m) and get 666,666 warrants free and clear.