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Cresud Inc. (NASDAQ:CRESY, BYMA:CRES) reported Wednesday that holders of its warrants exercised their rights to acquire additional shares between November 17 and November 25. The company collected $6,199,980 from the exercise of these warrants, according to a statement released through a press release and filed with the U.S. Securities and Exchange Commission.
As a result of these exercises, Cresud will register a total of 16,898,282 new ordinary shares, each with a face value of ARS 1. The company’s outstanding shares increased from 631,844,155 to 648,742,437. Concurrently, the number of outstanding warrants declined from 60,669,566 to 49,708,631.
The exercise price per ordinary share was USD 0.3669, with a current conversion ratio of 1.5417 ordinary shares per warrant. The company disclosed that, following these transactions, there are 49,708,631 warrants outstanding, which if exercised, would result in the issuance of up to 76,635,796 additional shares. On a fully diluted basis, Cresud’s share count would reach 725,378,233.
The information in this article is based on a press release statement included in a filing with the U.S. Securities and Exchange Commission.
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