ACTT
Act II Global Acquisition Corp. Class A
stock NASDAQ

Cashless exercise doesn’t necessarily make them less valuable.
The share would need to trade close above $18 for 20 out of 30 trading days for the company to be able to force it. And then, instead of you paying $11.50 cash, they would give you fractional shares for the warrants intrinsic value.
For instance, if the share was trading at $23.00 they would give you 1/2 of a share to compensate you for your warrant’s intrinsic value.
It’s unlikely that would happen though, because the company would likely prefer the cash and take the extra dilution.
I remember the ACTT/FREE merger amended their warrants and did somewhat a cashless exercise, but warrant holders were fairly compensated and didn’t “lose” anything.
Like I said though, extremely rare and unlikely in the circumstance of BULL.

Cashless exercise doesn’t necessarily make them less valuable.
The share would need to trade close above $18 for 20 out of 30 trading days for the company to be able to force it. And then, instead of you paying $11.50 cash, they would give you fractional shares for the warrants intrinsic value.
For instance, if the share was trading at $23.00 they would give you 1/2 of a share to compensate you for your warrant’s intrinsic value.
It’s unlikely that would happen though, because the company would likely prefer the cash and take the extra dilution.
I remember the ACTT/FREE merger amended their warrants and did somewhat a cashless exercise, but warrant holders were fairly compensated and didn’t “lose” anything.
Like I said though, extremely rare and unlikely in the circumstance of BULL.