Estimated conversion rate. Credit @HELLBROKER on stock twits
they will be worth 2.5% of the new company, pegged to a value of 1.6B dollars. So at issue, 40 million. If you want to convert that to the value of your shares, keep in mind that there are 507M shares of the current company. There will be 300M of the new company, of which 7.5M will go to these warrants. So by my math, there will be one warrant for every 67 current shares. Those warrants are issued at a strike price pegged to the 1.6B value.