Natural Resource Partners (NRP) has released an update.
Natural Resource Partners L.P. saw a significant exercise of warrants by holders on consecutive days, February 7 and 8, 2024, with 128,750 warrants at a strike price of $34 being exercised on each day. This occurred against a backdrop of a 15-day Volume Weighted Average Price (VWAP) well above the strike price, at approximately $96 and $95 respectively. The company paid out $15.9 million in cash to settle these transactions, leaving only 800,000 of the original 4 million warrants unexercised.
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