Holders have the right to full physical settlement or net share settlement.
In full physical settlement, holders must pay the exercise price, which currently is $18.33 for each Warrant B (CUSIP 37045V126), (plus any associated fees charged by the broker, etc.) in order to receive one share of GM’s common stock for each warrant exercised.
In a net share settlement, the transaction is cashless (unless there are associated fees charged by the broker, etc.), and the holder will receive a number of shares of GM’s common stock equal to the Net Share Settlement Price, (minus the exercise price, divided by the Net Share Settlement Price. Subject to variation in accordance with the warrant agreement, the Net Share Settlement Price is equal to the volume weighted average price per share of GM’s common stock for the 20 trading days prior to the date of determination of the Net Share Settlement Price for the regular trading session, as reported on the NYSE). All fractional shares will be paid in cash.
Please check with your broker or financial advisor for further details.