The only thing you need to focus on is that the warrants, if exercised by the government (or any other party), will dilute the common share market cap (measured by common shares outstanding times share price) by 79.9%.
Simply put, if your share price today is $3.00, your common share price after dilution sinks to $.60.
The warrants are a crucial element in any eventual common share price achieved if Fannie Mae goes through the release and recapitalize event sought by stockholders. Warrants do not effect preferred shareholders.
Hope that answers your question.
News 
Market Data 
Discover 
