PyroGenesis Inc T.PYR

IF I OWNED WARRANTS

[Melida]

If I owned any warrants that were mentioned in yesterday's news release (especially the one that don't expire until 2025) it would be a difficult decision to agree to be included in the amended terms.  That's just a reflection of my bullish attitude regarding Pyro.  Time will tell

[kjs4381]

This is a very good deal for warrant holders. It let's them exercise the Warrants at a greatly reduced price, and guarantees them to be in the money before the warrant expires. Lots of Warrants never get exercised because they aren't in the money or they expired. Jmo

[Melida]

But the exercise price is capped at .93.  Pyro can force the exercise of the warrants.  I understand where you're coming from.  I just think the share price through 2025 will increase to a point where some of the existing warrants will be well into the money (more so than the amended term warrants)

[Mostlyserious]

So if you believed the old higher priced warrants would be in the money next year, why would it be a difficult decision to accept repricing them down by 50 cents or a $1? Really hard to follow an argument where paying more could be a better deal given your conviction.

[Melida]

BECAUSE THE AMENDED WARRANTS WILL INCLUDE A TERM ALLOWING PYRO TO FORCE THE EXERCISE OF THEM AT 93 CENTS

[Mostlyserious]

BUT IF YOU BELIEVE THE STOCK WILL BE ABOVE $1.75 BY OCTOBER 2024, OR ABOVE $1.25 MID-2025, WHY WOULD YOU NOT WANT YOUR EXERCISE PRICE TO BE LOWERED TO $0.75 EVEN IF YOU WERE FORCED TO EXERCISE THEM AT 93 CENTS? WHY WOULD YOU WANT TO PAY $1.00 OR $0.50 MORE TO BUY YOURSELF LESS THAN A YEAR TIME? YOU HAVE A PROBLEM WITH BEING FORCED TO BUY A STOCK AT A 24% PROFIT AND WOULD RATHER WAIT A FEW MONTHS

[Melida]

It's been a busy morning for me.  Slow to respond.  If I owned existing warants, especially those that don't expire until March orJuly of 2025 it would be a difficult decision to agree to the amendment because it could very well mean I have to exercise the warrants at a much earlier date.   Suppose I own warrants that allow me to buy 100,000 shares.  If the .93

[kjs4381]

Here's a better way to look at it. Let's say the sp moves to $1.50.  You sell 10k shares at $1.50  and take that $15k and exercise 20k in warrants.  Now you have  10k more shares than when you started and it cost you nothing. Yes the sp can go down, but it can also go up. If you believe in where the company is headed, you should not have difficulty  exercising

[Melida]

At the very least I would have to know the income tax consequenses on the sale of the shares.  Your hypothetical assumes a 100% increase in share price, as well.  I'm long and stong but ... It's not nearly as straight forward as you suggest.  The effects of some investors immediatelly selling?

[kjs4381]

You may have misread the release.  It's not capped at .93 it's triggered at .93, if it's at that price or more for 5 consecutive days, then warrant holders have 30 days to exercise their Warrants. Tge price could go up to any number above .93 and keep going.