Cassava Sciences SAVAW Warrants Expiring Soon

Cassava Sciences, Inc. (NASDAQ: SAVA) has announced that the end-of-day on May 2, 2024, will be the final trading day for SAVAW warrants on NASDAQ. After this date, NASDAQ is expected to no longer accept or execute any trades for SAVAW warrants. Additionally, the company has reminded warrant holders that they have until 5:00 p.m. New York time on Monday, May 6, 2024, to cash-exercise their warrants at an exercise price of $33.00 per warrant.

It is important to note that holders who exercise SAVAW warrants will receive 1.5 shares of Cassava Sciences' common stock per warrant, effectively resulting in an approximate price of $22.00 per common share. The company has also introduced a process for warrant holders to cash-exercise their warrants using the "Notice of Guaranteed Delivery" if the procedures used by a financial institution for warrant exercise cannot be completed on a timely basis before the deadline.

Failure to validly exercise SAVAW warrants by 5:00 p.m. New York time on May 6, 2024, will result in the redemption of the warrants by the company on May 7, 2024, for a nominal payment of $0.001 per warrant. The redemption price will become due and payable with respect to each outstanding warrant on the redemption date.

For additional details regarding the warrant distribution and the terms of the warrants, including provisions for redemption, interested parties are advised to refer to the current report on Form 8-K filed by the company on January 3, 2024, and the press release issued by the company regarding redemption of the warrants on April 15, 2024. The company has also filed a prospectus supplement dated January 3, 2024, under its existing shelf registration statement, registering the shares of common stock underlying the warrants.

Cassava Sciences encourages warrant holders to allow sufficient time for their financial institutions to process warrant exercises prior to the deadline of May 6, 2024. Any further questions regarding financial accounts should be addressed by the shareholders' financial broker/advisor.

Cassava Sciences, Inc. is a clinical-stage biotechnology company based in Austin, Texas, with a mission to detect and treat neurodegenerative diseases, such as Alzheimer’s disease. The market has reacted to these announcements by moving the company's shares -0.2% to a price of $22.1. For the full picture, make sure to review Cassava Sciences's 8-K report.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.

IN FOCUS