Direct Digital Holdings redeems all outstanding warrants for $0.35 each

Direct Digital Holdings, Inc.

Completed offer for 2,193,021 warrants (~68.2%) at $1.20/warrant; proceeds used to redeem all remaining for $0.35/warrant.
Warrant amendment effective Oct 3, 2023 allows redemption of all outstanding warrants for $0.35 each.
Redemption date set for Oct 30, 2023; unexercised warrants become void after 5:00 p.m. New York time.
Warrant exercise price remains $5.50 per share; closing price of warrants on Oct 20 was $0.36, Common Stock $2.62.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Direct Digital Holdings, Inc. entered into Warrant Agency Agreement Amendment with Equiniti Trust Company, LLC valued at Redemption Price $0.35 per Warrant (effective 2023-10-03).

Action: entry
Counterparty: Equiniti Trust Company, LLC
Value: Redemption Price $0.35 per Warrant
Effective: 2023-10-03

Exact text from the filing

Accordingly, on October 19, 2023, the Company and the Warrant Agent entered into the Warrant Amendment effective as of October 3, 2023, which permits the Company to redeem each Warrant that is outstanding following the closing of the Offer for the Redemption Price.

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Direct Digital Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-110979

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