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Deadline for Special Situations Warrants Set for January
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Written by Nicolo Luminos
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Tuesday, 30 December 2008 |
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SLReports.net CEO Arbi Tomsen Reminds Public of Historic Offering...
Private Investor Arbi Tomsen recently announced the closing date for the IPO stage of the Special Situations Warrants (SASw : ACE), the first Warrant-Option thus far offered for speculators in Second Life.
A Warrant is a type of security that entitles the holder to buy a specific stock at a pre-determined price. The SASw(ACE) warrant allows the purchaser to redeem the warrant for one share of Special Situations (SAS : ACE) at L$2.50 a share. The SASw(ACE) current issue price is L$0.95, and will go into active trading when the IPO stage expires on January 19th, 2009. The holders of the warrants will have until May 15, 2009 to redeem them.
Of the original 250,000 SASw(ACE) warrants 6,334 have been issued.
SAS(ACE) opened today's trading at L$2.62, has a 30 day rolling share price average of L$3.01 on a 30 daily volume average of 391 shares exchanging hands. SAS(ACE) is a bellweather, 5-Star Luminos Rated stock with consistent dividend payments going back monthly to April, 2008. The current 6DYA is L$0.0310822565.
Arbi Tomsen holds 302,992 shares of SAS(ACE), of which 250,000 have been placed in escrow to cover the Warrant-Options written. Tomsen will recieve the dividends of the escrowed shares until they are redeemed or expire, at which point whatever shares go unredeemed will revert back to him. TOP NEWS:
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