What does "Pre-funded" mean? Not a "nominal price"? Hi, grateful if someone could explain this "pre-funded" lark.
I read,
this pdf link, that "pre-funded" warrants have a "nominal" strike price (just a cent normally), but I'm seeing IB showing me the BCTXW strike is U$5.3125.
I see (same pdf) there is an explanation of how pre-funded warrants can be used to avoid exceesing ownership thresholds. Is that what is necessary here does anyone know?
And once that is explained if someone could show me how the offering price is made up (by way of a worked eample hopefully)?
I've held some of these since 2015 and despite averaging down seem to have a b/e price of something that is going to require some impressive clinical results now! That HLA matching seemed to a good idea, should I still be hopeful?
Cheers
MD