IMV Inc IMVIQ

RE:Warrant Holders Extracting Maximum Profit Before Expiration

[antisense]

Looks like last set of warrants does expire June 8 2018:

Halifax, Nova Scotia; June 8, 2016 – Immunovaccine Inc. (“Immunovaccine”, “IMV”, or the “Company”) (TSX: IMV; OTCQX: IMMVF), a clinical stage vaccine and immunotherapy company, has closed the previously announced bought deal private placement (the “Offering”), raising gross proceeds of $8,002,500.  Under the terms of the Offering, a total of 14,550,000 units (the “Units”) were issued at a price of $0.55 per unit.  Each Unit consists of one common share in the share capital of Immunovaccine (a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one additional Common Share upon payment of the exercise price of $0.72 per share until June 8, 2018.

news-release-details/immunovaccine-announces-closing-8-million-bought-deal-private-0

mattw1100 wrote: Seen it before.  We are likely seeing last ditch effort by the holder of warrants to make some additional profit before they expire. My best guess is the warrant holder has already locked in a profit by shorting a like amount of shares.  

If tomorrow IMV announced say, a partnership deal, the warrant holder, likely a hedge fund who operates in this way all the time, it would not hurt them.  Their profit would be the same as the increased value of the shares behind the warrants would offset the loss on the shorts. So at this point, they have no risk. But they can increase their return if they take more risk by shorting the stock more than they have warrants to cover.

After this exercise is over, the stock should run back higher and they can sell the shares acquired in the warrant conversion for a tidy profit as well.

As of March 2018 there were ~6.7M warrants outstanding (pre consolidation).  Does anyone know when these warants expire? Is it June 8th?