The warrants entitle the holder to purchase additional
GYRO shares on the following terms; a warrant holder who exercises his / her warrants can purchase one common share of Gyrodyne at $ 53.00 for every 7.5 warrants exercised.
Bulldog had written in its closed - end fund letter a number of months back that it still saw value in
GYRO shares and might want to «help» (themselves and GYRO, of course!).
The temptation is to sell my existing
GYRO shares now and use these funds, and others, to exercise all my subscription rights, minimizing my GYRO investment and taking the inevitable loss.
So
the GYRO share from last month that traded for over $ 4 will only be worth $ 3 for a loss of over $ 1, but buying 1.5 new shares in the rights offering at $ 2.75 each will only produce $ 0.375 gain (and this all ignores time value).
Not exact matches
Because lunch was a really filling and delicious meal of a
shared elk burger and a
gyro from Baba's, we did not want a full meal.
Gyro dyne Corp. (GYRO) has announced a distribution of $ 1.00 per share as part of their long - term liquidation proc
Gyro dyne Corp. (
GYRO) has announced a distribution of $ 1.00 per share as part of their long - term liquidation proc
GYRO) has announced a distribution of $ 1.00 per
share as part of their long - term liquidation process.
Shares of
GYRO have been trending steadily downward since the end of December 2013 when a large cash payment ($ 45.86) was made and the management and operating assets were split.
I had previously thought the Board's strategy in implementing a subscription rights offer was to entice retail investors (who picked up
shares after hedge funds dumped their
GYRO common post the 2013 distributions) to exercise their rights and oversubscription privileges, thereby gaining enough votes to pass the merger proposal allowing liquidation.
Thirdly, I added to my small position in
GYRO; they just announced a rights offering, causing a slight dip in the
share price.
The purpose of the rights offering is to get
shares of
GYRO into «friendly» shareholder hands that will participate in a shareholder vote and approve the liquidation.
In the revised plan of liquidation of December 19, 2013 the book value of
GYRO (post dividends) was $ 5.70 per
share.
They do
share the usual suspects — Wi - Fi, GPS, NFC capability (although the iPhone uses only Apple Pay), and the usual sensors, such as
gyro, accelerometer, proximity sensor and compass and they both have non-removable batteries.