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Cassava Sciences: Cassava Sciences, Inc. - Warrants Distribution Option Symbol: SAVA New Symbol: SAVA1 * * * Update * * *

OCC ·  Jan 5 00:12
Summary by Futu AI
Cassava Sciences, Inc. (SAVA) has announced a distribution of warrants to its common shareholders, with each warrant granting the right to purchase one common share of SAVA at a price of $33.00, plus an additional bonus share. The distribution ratio is set at 0.40 transferable warrants for each common share held, with a record date of December 22, 2023. The warrants, which began trading on NASDAQ under the symbol 'SAVAW' on January 4, 2024, are set to expire on November 15, 2024, at 5:00 p.m. New York City time, unless extended. The settlement of the SAVA component of the SAVA1 exercise/assignment activity has been completed through the National Securities Clearing Corporation (NSCC), and the SAVAW component, which experienced a delayed settlement, is now also settled through the NSCC...Show More
Cassava Sciences, Inc. (SAVA) has announced a distribution of warrants to its common shareholders, with each warrant granting the right to purchase one common share of SAVA at a price of $33.00, plus an additional bonus share. The distribution ratio is set at 0.40 transferable warrants for each common share held, with a record date of December 22, 2023. The warrants, which began trading on NASDAQ under the symbol 'SAVAW' on January 4, 2024, are set to expire on November 15, 2024, at 5:00 p.m. New York City time, unless extended. The settlement of the SAVA component of the SAVA1 exercise/assignment activity has been completed through the National Securities Clearing Corporation (NSCC), and the SAVAW component, which experienced a delayed settlement, is now also settled through the NSCC. The underlying price of SAVA1 will be determined by the sum of SAVA's price and 0.4 times the price of SAVAW. Upon the expiration of the warrants, the adjusted SAVA1 options will be further adjusted to no longer include the warrants. The exact date when the warrants will cease trading on NASDAQ is not yet known. Investors holding call options are responsible for determining the timing of their exercises to obtain the warrants, and must comply with all terms and conditions of the Warrants Distribution.

This announcement is a separate document:

Doc 1

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