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Investment Strategies / Interesting Microcaps
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Author: Bankman007 ⎊  😊 😞
Number: of 46 
Subject: Re: Bridger Aerospace BAER
Date: 10/16/2023 4:04 PM
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No. of Recommendations: 3
Stock is down 10% today at $6.53.

I finally looked up the warrants. They exercise at $11.50 prior to January 24, 2028. BAERW currently trades at 20 cents/share.

From p.62 of the 2022 Annual report.

We may receive up to $306.5 million from the exercise of the Warrants after the Closing, assuming the exercise in full of all the Warrants for cash, but not from the sale of the shares of Common Stock issuable upon such exercise. On March 17, 2023, the closing price of our Common Stock was $4.75 per share. For so long as the market price of our Common Stock is below the exercise price of our Warrants ($11.50 per share), our Warrants remain 'out-of-the money,' and our Warrant Holders are unlikely to cash exercise their Warrants, resulting in little or no cash proceeds to us. There can be no assurance that our Warrants will be in the money prior to their January 24, 2028 expiration date, and therefore, we may not receive any cash proceeds from the exercise of our Warrants to fund our operations.

I'd liken those warrants to an out of the money call option.
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