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05/07/21 5:06 PM

#375216 RE: JerryCampbell #374956

Still, if one exercises cashless, they are taking some number of the available warrants or options out of possibility of circulation.

If one exercises and pays for it with cash, that's money in the company's pocket.

So there are benefits to us as shareholders under both scenarios.

One, if the warrants are exercised with cash, the company continues to take in funding, through the exercise of warrants - at a time when their funding options are limited (they are in possession of material information - because they are certainly unblinded); and two, if the warrants are exercised cashless, as bear trap earlier pointed out, it takes those warrants used to exercise the other warrants off the table.