Savvy Trades and Investments

[researcher59]

LSEA (8.27) warrant terms - beware, 10 warrants convert into just 1 share of stock at $11.50, expiring 5 years from the date of the SPAC merger - so effectively $1.90 per share at the current price of $0.19 per warrant. I'd say fair value is a bit higher at $0.25, but they're also rather illiquid, hence a discount is appropriate.

10Q -

As of September 30, 2021 there were 21,025,000 outstanding Warrants, consisting of 15,525,000 public warrants and 5,500,000 Private Placement Warrants. At the time of the Merger, the Warrant Agreement was amended so that each public warrant is exercisable at $1.15 into one tenth share of common stock. As part of the amendment, each holder of the public warrants received $1.85 for a total of $28.7 million paid by the Company upon closing of the Merger. Each Private Placement Warrant is exercisable at $11.50 into one share of common stock. The Warrants will expire five years after the completion of the Merger or earlier upon redemption or liquidation.

LSEAW