DETROIT – General Motors Co. (NYSE: GM) today issued a reminder to warrant holders that the company’s publicly traded Series A warrants are set to expire on Sunday, July 10, 2016. Because the expiration date is not a trading day on the NYSE, warrants will not be exercisable after the Depository Trust & Clearing Corporation’s (DTCC) cutoff time for exercises on Friday, July 8, 2016.
The warrants have been trading under the symbol (NYSE: GM.WS.A), and were originally issued in July 2009. The NYSE has notified GM that it will suspend trading in the warrants after the close of trading on July 1, 2016 so that all trades can be settled by July 8, 2016.
As of June 24, 2016, there were approximately 11.7 million redeemable warrants outstanding. The warrants have an exercise price of $10.00 per share.
A warrant holder can obtain further information on exercising the warrants by contacting their broker or U.S. Bank National Association, GM’s warrant agent. Brokers are encouraged to contact U.S. Bank National Association or the DTCC in advance of the expiration date to confirm the procedures for exercising warrants and payments of exercise prices.
Any warrant not exercised prior to the cutoff time on July 8, 2016 will expire and be canceled, and the holder will not receive any shares of GM common stock.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at https://www.gm.com.