Issuance of warrants

### Warrants – **Issue and Rights:**
– Stock exchange companies issue warrants that grant the holder the right to purchase shares or bonds at a predetermined price, called the “exercise price.”
– Each option has a limited lifespan, usually between 1 and 3 years. – **Exercising the option:**
– The option holder can only exercise his right during the life of the option. After that, the option expires and has no value. – “Last Exercise Date” is an important date, as after it the option loses its value. – **Important Note:**
– Warrants should not be confused with stock options. Warrants can be exercised during the entire period in which they are traded, while stock options can only be exercised on the last day of their life. – **Exercise for shares:**
– Although some options can also be exercised for bonds, we will focus on options that can be exercised for shares.
– Companies issue the options along with the issuance of shares, sometimes free of charge or at a symbolic price.
– The options do not grant voting rights or rights to profits.
– The company can issue several series of warrants and number them in a running order. – **Options Trading:**
– The right that the option grants is valuable and therefore has a price.
– Options are traded on the stock exchange, similar to stocks.