Does Radius Global have outstanding warrants?
Yes, Radius Global Infrastructure has approximately 50 million outstanding warrants, entitling each warrant holder to receive one share of the Company’s Class A common stock for every three warrants exercised, resulting in a maximum of 16.7 million Class A common shares issued upon exercise.
Where do the warrants trade and what is the warrant ticker symbol?
The Radius Global warrants trade on the Over-the-Counter market (OTC) under the ticker symbol RADIW.
What is the exercise price and conversion ratio for the warrants?
The Exercise Price for the Company’s warrants is $11.50 per share. The warrant holder is entitled to receive one share of the Company’s Class A common stock for every three warrants held. Fractional Class A share conversions will not be permitted.
When do the warrants expire?
The warrants expire on February 10, 2023 unless they are redeemed earlier by the Company (see below for more information about the mandatory redemption)
How do I exercise my warrants?
The easiest way is to contact your brokerage firm. In order to exercise its subscription rights, your brokerage firm will contact the Depository Trust Company (DTC), who possesses the warrant instruments and in turn will deliver to the Registrar, Computershare Trust Company, N.A., the $11.50 per share Exercise Price paid by you and the relevant warrant certificate(s), including the completed and signed notice of exercise of subscription rights thereon. (The exercise is not “cashless” – you will have to pay $11.50 per share to effect the exercise.) The brokerage firm will notify DTC of your desire to exercise the warrants and should be able to provide both DTC and Computershare the necessary documents. Warrants will be deemed to be exercised on the business day upon which Computershare has received the relevant documentation and Exercise Price remittance in cleared funds. For these purposes, “business day” means any day (excluding a Saturday or a Sunday) on which banks in New York City are open for business.
Do the warrants have a mandatory redemption?
Yes, there is a mandatory redemption by the Company that is triggered if the volume-weighted average price (VWAP) of the Company’s Class A common shares for any ten consecutive trading days is equal to or greater than $18.00 per share according to Bloomberg If this redemption event occurs, the Company will give warrant holders notice within 20 days of its occurrence and will redeem all warrants failing to be redeemed on the date set by the redemption notice, being a date no later than 30 days following the occurrence of the redemption event. The Company will provide notice of the mandatory redemption (at $0.01).
Where can I read more about the Company’s warrants?