Warrants are similar to buying long options. I'm no expert and this my first time buying warrants. And there are rules to take into consideration . And I believe they are redeemable 30 days after, need look into the S1 for details:
Here are a couple of excerpts:
Our Class A Stock and Public Warrants are listed on the Nasdaq Global Select Market under the symbols “LAZR” and “LAZRW,” respectively. On December 21, 2020, the last reported sales price of our Class A Stock was $35.15 per share and the last reported sales price of our Public Warrants was $16.05 per warrant.
Exercise Price of Private Warrants and Public
Warrants
$11.50 per share, subject to adjustments as described herein.
The exercise of warrants for our Class A Stock would increase the number of shares eligible for future resale in the public market and result in dilution to our stockholders.
As of December 2, 2020, we had Public Warrants to purchase an aggregate of approximately 13,333,309 million shares of our Class A Stock outstanding. These warrants will become exercisable on (i) January 4, 2021, which is 30 days after the Closing. The exercise price of these warrants is $11.50 per share. To the extent such warrants are exercised, additional shares of Class A Stock will be issued, which will result in dilution to the then-existing holders of Class A Stock and increase the number of shares eligible for resale in the public market. Sales of substantial numbers of such shares in the public market or the fact that such warrants may be exercised could adversely affect the market price of our Class A Stock.
We may redeem your unexpired warrants prior to their exercise at a time that is disadvantageous to you, thereby making your warrants worthless.
We have the ability to redeem certain outstanding warrants at any time after they become exercisable and prior to their expiration, at a price of $0.01 per warrant, provided that the last reported sales price of our Class A Stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30 trading-day period ending on the third trading day prior to the date we send the notice of redemption to the warrant holders. If and when the warrants become redeemable by us, we may exercise our redemption right even if we are unable to register or qualify the underlying securities for sale under all applicable state securities laws. Redemption of the outstanding warrants could force you to: (1) exercise your warrants and pay the exercise price therefor at a time when it may be disadvantageous for you to do so; (2) sell your warrants at the then-current market price when you might otherwise wish to hold your warrants; or (3) accept the nominal redemption price which, at the time the outstanding warrants are called for redemption, is likely to be substantially less than the market value of your warrants.
So, since its my first time owning warrants I was wondering is anyone here had any actual experience is the actual process of redeeming and avoiding the worthless part. LOL
GTLA
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