Warrants Terms - Existing & ProposedOkay, lets clear this up once and for all, I will try to make it as simple as possible. IMO, the warrants are trading "today" in anticipation of those proposed terms, subject to approval. Please read both PR's carefully for a complete reference.
EXISTING TERMS:
From the PR 2011-08-26; At the open on Tuesday, Aug. 30, 2011, 18 warrants will entitle the holder to acquire one Adherex share for $1.44. The warrants will expire at 5 p.m. (Toronto time) on March 30, 2016.
PROPOSED TERMS:
From the PR 2013-11-22; An offer to holders of warrants issued by the company on or about April 30, 2010, and on or about March 29, 2011, a right to exchange such outstanding warrants for new unlisted warrants on a one-new-warrant-for-10-outstanding-warrants basis, with the new warrants having an exercise price per common share of 50 U.S. cents.