In past years when I was in similar position, Warrants were priced at the last trading day's price of that stock before the new stock / reorg structure went into place, and thus, you had ability to buy new stock later at that final settlement price- and in those cases, when trading resumed on new stock, it was into much higher double digits, and thus, you could exercise your warranst for equal share sof stock at the lwoe rprice, already locking in profit as the current price then wa smuch higher...
BUT, anything is possible and can happen at anytime as everyone saw last Friday morning in fact.
Past BK deals where I was involved in such as CIT, GM, and others where shareholders were NOT given any consideration for their investments made, those Insiders/management guys were given special stock/warrants of which they could exercise only after new reorg was in place and stock traded under its ticker. Why so many like myself got pisssed in CIT deal for instance when Icahn came in seeing all those SOB's getting $Millions more afterwards for ruining those companies & jobs doing that then...
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