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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Address: 500 - 1133 Yonge
St
Toronto Ont Canada M4T 2Y7
Phone: 416 924 4551
Fax: 416 924 5015
Web Site:
https://www.sherritt.com
Warrant Symbol -
S.WT
Number Trading - 47,232,200
Expiration Date - January 26,
2021
Cusip - 823901 13 7
Exercise Price - $1.95
Warrants called to trade news:
W
Sherritt Int'l warrants to trade
Jan. 25
2018-01-23 20:11 MT - Warrants
Called to Trade
The Toronto Stock Exchange
reports that Sherritt
International Corp. warrants
will be listed and posted for
trading at the open on Jan. 25,
2018. According to the TSX,
there will be 47,232,200
warrants issued. The warrants
will trade under the symbol S.WT
and Cusip No. 823901 13 7.
As stated in its prospectus
supplement dated Jan. 17, 2018,
the company will issue
94,464,400 units at $1.40 per
unit in a public offering, with
each unit consisting of one
share and one-half of a
cobalt-linked warrant. According
to the TSX, the units will
separate immediately upon
closing of the offering.
The TSX reports that each whole
warrant will entitle the holder
to acquire that number of shares
that is equal to the
share-per-warrant ratio as shown
in the attached table.
Applicable reference cobalt
price (U.S. $/lb) Common shares
per warrant ratio
$34.99 and under 1.00
$35 to $39.99
1.05
$40 to $44.99
1.10
$45 to $49.99
1.15
$50 to $54.99
1.20
$55 and over
1.25
According to the TSX, the
applicable reference cobalt
price will be calculated and
published by the company
monthly, based on a rolling
average of the cobalt price for
the prior three months using the
midpoint of the metal bulletin
high price and the metal
bulletin low price, expressed in
U.S. dollars per pound, for each
month in the three-month period.
The TSX adds that at or about 5
p.m. Toronto time on the fifth
business day of each calendar
month, the company shall publish
on its website and shall issue a
news release in which it
discloses the share-per-warrant
ratio and the applicable
reference cobalt price that will
apply to each exercise date, and
including the following business
day (in Toronto) of such
calendar month until and
including the fifth business day
of the immediately succeeding
calendar month.
The warrants will expire at 5
p.m. Toronto time on the date
that is 36 months from the
closing date of the offering.
© 2018 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.
