ICYMI: OXY warrants.
Issued August 3, 2020, or thereabouts, to those with OXY, record date, July 6, 2020. Distribution announcement here.
Holders of Occidental common stock will receive 1/8th of a warrant for each share of common stock held as of the record date, and each warrant will entitle the holder to purchase one share of Occidental common stock for a purchase price of $22 per share. The distribution of the warrants will be made on August 3, 2020 to stockholders of record as of July 6, 2020. The warrants will have a term of seven years and Occidental expects to list the warrants on The New York Stock Exchange.
What does it mean? Come due in seven years for $22. Any time between date of issue and 2027, folks can exercise their warrants, buying shares of OXY for $22/share.
Currently trading under ticker symbol "OXY-WT" on NYSE for under $5.00.
SeekingAlpha articles frequently disappear behind a paywall, but as of tonight, this piece on OXY is still accessible.
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Tesla
By the way, speaking of such things, how have the 5.3% Tesla bonds been doing? Link here. Last trade: $104.
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The Musical
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