THE INVESTOR'S GUIDE TO WARRANTS:
Capitalize on the Fastest Growing Sector of the
Stock Market, Second Edition (Hardcover)
by Andrew McHattie Rating: ISBN-10: 027303751X
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Warrant Symbol - ASTL.WT
Address: 105 West St
Sault Ste Marie ON Canada P6A 7B4
Phone: 705 945 2351
Web Site: https://www.algoma.com
Number Trading - 24,179,000
Expiration Date - October
19, 2026
Cusip - 015658 11 5
Exercise Price - $11.50
US
Warrants called to trade news
Algoma
Steel Group to list on TSX
2021-10-18 16:58 ET -
New Listing
The Toronto Stock Exchange
reports that Algoma Steel Group
Inc. will be listed at 5:01 p.m.
on Oct. 19, 2021, for trading at
the open on Oct. 20, 2021,
subject to the closing of the
merger and financing as
described below. According to
the TSX, there will be
112,074,095 common shares and
24,179,000 common share purchase
warrants of the company issued
and outstanding, and 73,760,491
shares reserved for issuance.
The shares will trade under the
symbol ASTL, in Canadian dollars
and under Cusip No. 015658 10 7,
and the warrants will trade
under the symbol ASTL.WT, in
Canadian dollars and under Cusip
No. 015658 11 5.
The TSX reports that the
company, Algoma Merger Sub Inc.
and Legato Merger Corp. entered
into an agreement and plan of
merger on May 24, 2021, pursuant
to which Algoma Merger Sub will
merge with and into Legato
through a statutory merger under
the laws of the State of
Delaware, with Legato surviving
as a wholly owned subsidiary of
the company. Also on May 24,
2021, the company entered into
subscription agreements for the
offering, on a private placement
basis, of 10 million shares at
$10 (U.S.) per share for a total
purchase price of $100-million
(U.S.). The closing of the
financing is contingent upon,
among customary closing
conditions, the concurrent
completion of the merger. Both
the financing and the merger are
expected to close on Oct. 19,
2021.
The TSX notes that the company's
shares and warrants will also be
listed on the Nasdaq Stock
market and posted for trading
under the symbols ASTL and
ASTLW, respectively. Each whole
warrant will entitle the holder
to acquire one share of the
company at $11.50 (U.S.) per
share and will become
exercisable 30 days following
the completion of the merger.
The warrant will expire at 5
p.m. New York time on Oct. 19,
2026, which is the day that is
five years after the closing of
the merger.
The TSX reports that the
warrants may be redeemed, at the
option of the company, at one
U.S. cent per warrant, provided
that the last sale price of the
shares equals or exceeds $18
(U.S.) per share on each of the
20 trading days within any
30-trading-day period commencing
after the warrants become
exercisable and ending on the
third trading day prior to the
date on which notice of
redemption is given by the
company. Continental Stock
Transfer & Trust is the warrant
agent, at its principal office
in New York, and TSX Trust
Company is the Canadian
co-warrant agent, at its
principal office in Toronto.
© 2022 Canjex Publishing Ltd.
All rights reserved.
- Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.
- Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.
- Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."
- Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.
- Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.
