Technically the share price has already been diluted by those warrants. Everyone knows they are out there and that they will most likely be exercised, so they are already priced in.
I disagree fully with this statement. The existence of warrants does not dilute a share price just because of their existence. PPS suppression does occur due to speculation of them being exercised,...but there is also speculation about them not being exercised which keeps the price from lowering to the point that it would if they were actually exercised. And I disagree that "they will most likely be exercised". In fact, as I have stated before, it is highly UNLIKELY that they will be exercised. It is more likely they will never be exercised.
the f&f warrants were 20 year warrants so good until 2028. Although nothing would stop treasury/fhfa from extending them if they felt like it so no guarantee this will be settled in 2028.
Thank you for this. I would just caveat that Treasury/FHFA would need to both agree to extend past 2028. Neither can do it alone.
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