Good evening lady*b :) Meant to ask you this earlier: can I get an education on what the COIN warrants will do now post IPO? I.E. if one bought COINW for $3.58, do they now pay an additional $8.25 to get a common share?
Converted Organics' Post-Effective Amendment to Form SB-2 Registration Statement Declared Effective by SEC Thursday January 24, 4:15 pm ET Exercise of Class A and B Public Warrants for Common Stock Now Permissible
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN - News) today announced that the Post-Effective Amendment to the company’s SB-2 Registration Statement was declared effective by the Securities and Exchange Commission (SEC) on January 24, 2008. This declaration of effectiveness allows for the voluntary exercise of Converted Organics’ Class A public warrants (NASDAQ:COINW - News) and Class B public warrants (NASDAQ:COINZ - News). Holders of the Class A and Class B warrants issued as a component of the units sold by Converted Organics in the company’s initial public offering may purchase 1.21551 shares of common stock for each warrant exercised. The Class A and Class B warrants are exercisable at $8.25 per warrant and $11.00 per warrant, respectively, at any time on or before February 13, 2012.
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