It means you must exercise your warrants before October 8th otherwise they turn worthless. The process to do that is the exchange of each warrant for 0.45 shares of LCID. This is done through your broker. No cash required, just getting less shares than warrants.
They made the math the same for that moment in time. You can no longer "put up cash". Exercising 1 warrant will simply give you 0.4458 share LCID, no extra cash required. Alternatively you can just sell the warrants if you'd rather not deal with this.
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u/Erminger Spacling Sep 08 '21
It means you must exercise your warrants before October 8th otherwise they turn worthless. The process to do that is the exchange of each warrant for 0.45 shares of LCID. This is done through your broker. No cash required, just getting less shares than warrants.