Please correct me if I'm wrong as I am an HVAC contractor and not an accountant.
The warrants can be exercised 30 days after the merge. The underlying price is 11.50 (strike price?). One can buy a warrant, SHLL-WT, for 10.27. 10.27 is the closing price today as they trade like stock.
I do not know when they expire, but if I bought one today I could own it for (11.50 + 10.27) 21.77 thirty days after merger.
If the price is (to da moon) much higher at that time, I would think the warrants would flood the market. Especially if sophisticated traders, who are likely buyers of the warrants, feel the stock is overpriced.
My concern is how many traders are holding the warrants from two weeks ago when total price was well under $20. Imagine SHLL is trading over $40 thirty days after merger. What would you do?
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