RE: CBJ Warrants Disappointing ?I saw the following on Stockwatch:
" To: LLCF who wrote (356) 9/14/2006 5:37:53 PM
From: dara Read Replies (2) of 587
Treatment of Warrants in the CBJ/IMG Merger
I spoke with CBJ IR and if I understood correctly, the CBJ warrants will be converted into IMG warrants with the same expiry date as they currently have. You will not be forced to exercise by the deal's closing date.
Every 1 CBJ warrant will be worth .42 warrants of the new IMG company. If you have 10,000 CBJ.wt, you'll end up with 4200 warrants of the new IMG."
Based on the above, I calculate that you need 2.38 (say 2.4) CBJ.WT.C for each IMG share. I believe this makes the exercisable price of the so far hypothetical "IMG warrants" $ 8.92, (2.38x3.75). If the above is correct, than it takes 2.4 CBJ.wt.C and $8.92 to get one IMG share. Don't rely on this without checking. Confirm or correct if you can.