At this point IDCC is probably better off waiting until the notes expire in June to close out their position. They’re only paying 2% interest on it now and could be making more than that by investing it. Most of the expense with these notes is front loaded paying for the loan fee and Call Spread.
“And I want to know the current status of the warrants that were associated with that bond issue.”
I don’t think you understand how the calls and warrants are being settled. If the warrants are in the money IDCC will I not receive any cash, they will just issue the shares that are equal to the difference between the stock price and strike price of the warrants. For example if:
Warrant Exercise Price=$90 Stock Price when exercised=$100/share
Then IDCC will just issue whoever owns the warrants 1/10 of a share of stock to pay for the difference. IDCC won’t get $100 and then issue 1 share of stock like what you are probably thinking.
Now if IDCC doesn’t close out the warrants at the same time they close out the notes and calls things could get really interesting with the share price. You can go back to June 2016 to see what happened when they didn’t.
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