Reading EDGAR

Every warrant financing, as it is filed.

We read the full text of every filing the SEC publishes and write down the ones carrying the language of a warrant financing. The list, daily.

Type in a company and we go back five years — every filing that carries warrant language, with the exhibits, listed. $8 a search. Or $60 for the year and search as often as you like. The five most recent from today's scan are free below — they change every day, so a particular company is rarely among them.

Want it in plain English? Our partner 8k10q.com reads any filing on this list.

This site Who filed, and when

Which companies filed warrant language, on what day, in what form. A list you can work from — useful if you trade around warrant paper coming out.

$8 a search · $60 the year, paid once
8K10Q.com What it says

Somebody reads the filing and the exhibit and tells you in plain English what the terms actually are. The wire does not do this and never will.

$20 plain clear read for you →

They are at it again.

Filed in the last few days. We read the documents, not the press releases.

Reading the wire…
Read this with the list A match is not a finding. This language is ordinary and lawful, and most of these deals are unremarkable. A filing appears here because the document is worth reading — nothing on this page says any company or any person did anything wrong.

What we look for

Price reset

The exercise price falls if the company later sells stock cheaper. Every cheap issuance makes the existing paper convert into more shares at a lower price.

Cashless exercise

Shares issue without the holder paying the exercise price. The company receives no cash and the shares still reach the market.

Ownership blocker

Usually 4.99%, raisable on 61 days' notice. A holder can own paper convertible into a great deal of a company and never appear in an ownership filing.

Warrant inducement

Existing holders are offered a lower price to exercise early, typically in exchange for new warrants — often more than they exercised.

How this can work, drawn step by step →

Be told when it is your company

Tell us the tickers you hold and we will write to you the day one of them files warrant paper. That costs nothing and it always will.

Seeing the filing itself — the terms, the dates, the accession number — is what the subscription is for. $8 for one search, $60 for the year.

No charge yet and no card. We are building the list first and will write to you before anything costs anything. Your tickers are used to decide what to send you and are never published or sold.