Replies to post #14725 on Sears Holdings Corp. (fka SHLDQ)

[Peanutbuttercup]

Not a lawyer here either but this language is why I interpreted it that way:
“The exercise price in effect immediately prior to the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification will be adjusted by multiplying such exercise price by the quotient of (NYSE:X) the number of warrant shares immediately prior to such adjustment divided by (NYSE:Y) the new number of warrant shares as determined in accordance with the immediately preceding sentence."