Re: GTCB financing
>I like the terms of the deal - no discount, registered - as Dew pointed out. The one thing that bothers me is the 5 year term of the warrants. Isn't that rather a long window? To my mind, even three years is long. Is there anything in this deal to prevent the warrants from being used to facilitate/protect shorting?<
Five years is a pretty long window; however, there are some restrictions. According to Tom Newberry, the warrants are not exercisable until June, 2006, which negates whatever utility the warrants might have had as a hedge for near-term short-selling of the common. Also, the warrants are callable by GTC under certain conditions. An SEC filing to come will provide further details.
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