Distributable Tontine Redeemable Warrant.
Can you advise if or how the above warrant will be issued against Pershing Square Tontine.
Holders of normal common stock are issued with some form of warrant / token if they don’t sell / redeem their shares pre merger. It suggests after the merger shareholders will be able to buy an additional share at a fixed price of $23.
If I understand correctly you will earn the right to buy 2 shares at $23 for every 9 common shares held.