Fannie Mae-No Politics (FNMA)

[jeddiemack]

Rek..

Sep 8, 2008 1.91 2.05 0.65 0.73 585,901,400 0.73
Sep 5, 2008 6.19 7.18 6.05 7.04 83,613,900 7.04

The price the day before the invasion was $7.04

The warrants should have been priced no lower than this. And in many cases the warrants, in other transactions are often priced higher to allow for some "value" to accrue to the benefit of the entity and shareholders for the underlying transaction.

Say $20 a share.