- Public M&A: Are Warrants attractive price protection instruments?
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Public M&A: Are Warrants attractive price protection instruments?
Public M&A: Are Warrants attractive price protection instruments?
February 8, 2024
Key Takeaways
Recent SEBI informal guidance to Paramount clarifies ambiguity on holding periods for warrants
Though warrants could be listed, listed warrants are almost non-existent
Unlisted warrants cannot be transferred (no matter how long they’ve been held for)
Shares received upon conversion of warrants are locked-in for 6 months, but unlike other convertibles, the holding period of warrants is excluded – hence exits cannot be planned with precision
