RE:RE:warrants and optionsPedroPistacio wrote: Has there been a secondary market for any of the warrants?
Hello Pedro,
As far as I have been able to ascertain, there is no formal secondary market for the warrants, and the current outstanding issue was taken up by less than 10 individual investors. This means that there is not likely any trading in these securities, unless something private was done between the original private placement participants.
We will have to wait for the 2021 Q1 financial statements to see whether the warrant holders decided to buy more NPK at $1. If the common shares trade above $1 between now and March 12, then the holders can exercise their warrants and lock in a gain if they can then sell NPK shares at the higher price. Only problem is that for the insiders they are prohibited from selling shares after December 31, 2020 until the 2020 audited financial statements are released. If that has not happened by March 31, 2021, then they are again prohibited from trading in teh NPK shares until the 2021 Q1 financial statements are released in May 2021.
That being said, if NPK trades above $1, there will be this overhang of 1.4 million shares that will likely limit the further upside of the common shares until they have been absorbed by the general market. On the other hand, I would suggest insiders know that $1 per share will be looking like a very attractive entry price 6 months from now, so may just hold onto the newly acquired shares.