Illustrative Example. Inputs: S = Underlying Security Price X = Exercise Price PV(X) = Present value of the Exercise Price, discounted at a rate of R = X * (e^-(R * T)) V = Volatility R = continuously compounded risk free rate = 2 * [ ln (1 + Interest Rate / 2) ] T = Time to Expiration W = warrant value per underlying share Z = number of shares underlying warrants Value = total warrant value Formulaic inputs: D1 = [ ln [ S / X ] + (R + (V^2 / 2)) * T)] ÷ (V * ÖT) D2 = [ ln [ S / X ] + (R - (V^2 / 2)) * T)] ÷ (V * ÖT) Black-Scholes Formula W = [N(D1) * S] — [N(D2) * PV(X)] Where “N” is the cumulative normal probability function Value = W * Z
Appears in 3 contracts
Samples: Non Control Agreement (General Growth Properties Inc), Warrant and Registration Rights Agreement (General Growth Properties Inc), Escrow Agreement (General Growth Properties Inc)
Illustrative Example. Inputs: S = Underlying Security Price X = Exercise Price PV(X) = Present value of the Exercise Price, discounted at a rate of R = X * (e^-(R * T)) V = Volatility R = continuously compounded risk free rate = 2 * [ ln (1 + Interest Rate / 2) ] T = Time to Expiration W = warrant value per underlying share Z = number of shares underlying warrants Value = total warrant value Formulaic inputs: D1 = [ ln [ S / X ] + (R + (V^2 / 2)) * T)] ÷ (V * ÖT) D2 = [ ln [ S / X ] + (R - (V^2 / 2)) * T)] ÷ (V * ÖT) Black-Scholes Formula W = [N(D1) * S] — - [N(D2) * PV(X)] Where “N” is the cumulative normal probability function Value = W * Z
Appears in 2 contracts
Samples: Warrant Agreement (Pershing Square Capital Management, L.P.), Warrant Agreement (New GGP, Inc.)
Illustrative Example. Inputs: S = Underlying Security Price X = Exercise Price PV(X) = Present value of the Exercise Price, discounted at a rate of R = X * (e^-(R * T)) V = Volatility R = continuously compounded risk free rate = 2 * [ ln (1 + Interest Rate / 2) ] T = Time to Expiration W = warrant value per underlying share Z = number of shares underlying warrants Value = total warrant value Formulaic inputs: D1 = [ ln [ S / X ] + (R + (V^2 / 2)) * T)] ÷ (V * ÖT√T) D2 = [ ln [ S / X ] + (R - (V^2 / 2)) * T)] ÷ (V * ÖT√T) Black-Scholes Formula W = [N(D1) * S] — - [N(D2) * PV(X)] Where “N” is the cumulative normal probability function Value = W * Z
Appears in 2 contracts
Samples: Stock Purchase Agreement (Pershing Square Capital Management, L.P.), Stock Purchase Agreement (Pershing Square Capital Management, L.P.)
Illustrative Example. Inputs: S = Underlying Security Price X = Exercise Price PV(X) = Present value of the Exercise Price, discounted at a rate of R = X * (e^-(R * T)) V = Volatility R = continuously compounded risk free rate = 2 * [ ln (1 + Interest Rate / 2) )] T = Time to Expiration W = warrant value per underlying share Z = number of shares underlying warrants Value = total warrant value Formulaic inputs: D1 = [ ln [ S / X X] + (R + (V^2 / 2)) * T)] ÷ (V * ÖT√T) D2 = [ ln [ S / X X] + (R - (V^2 / 2)) * T)] ÷ (V * ÖT√T) Black-Scholes Formula W = [N(D1) * S] — [N(D2) * PV(X)] Where “N” is the cumulative normal probability function Value = W * Z
Appears in 2 contracts
Samples: Warrant Agreement (General Growth Properties, Inc.), Warrant Agreement (General Growth Properties, Inc.)
Illustrative Example. Inputs: S = Underlying Security Price X = Exercise Price PV(X) = Present value of the Exercise Price, discounted at a rate of R = X * (e^-(R * T)) V = Volatility R = continuously compounded risk free rate = 2 * [ ln (1 + Interest Rate / 2) ] T = Time to Expiration W = warrant value per underlying share Z = number of shares underlying warrants Value = total warrant value Formulaic inputs: D1 = [ ln [ S / X ] + (R + (V^2 / 2)) * T)] ÷ (V * ÖT√T) D2 = [ ln [ S / X ] + (R - (V^2 / 2)) * T)] ÷ (V * ÖT√T) Black-Scholes Formula W = [N(D1) * S] — – [N(D2) * PV(X)] Where “N” is the cumulative normal probability function Value = W * Z
Appears in 1 contract
Samples: Warrant and Registration Rights Agreement (General Growth Properties Inc)
Illustrative Example. Inputs: S = Underlying Security Price X = Exercise Price PV(X) = Present value of the Exercise Price, discounted at a rate of R = X * (e^-(R * T)) V = Volatility R = continuously compounded risk free rate = 2 * [ ln (1 + Interest Rate / 2) ] T = Time to Expiration W = warrant value per underlying share Z = number of shares underlying warrants Value = total warrant value Formulaic inputs: D1 = [ ln [ S / X ] + (R + (V^2 / 2)) * T)] ÷ (V * ÖT) D2 = [ ln [ S / X ] + (R - — (V^2 / 2)) * T)] ÷ (V * ÖT) Black-Scholes Formula W = [N(D1) * S] — – [N(D2) * PV(X)] Where “N” is the cumulative normal probability function Value = W * Z
Appears in 1 contract
Samples: Non Control Agreement (Pershing Square Capital Management, L.P.)
Illustrative Example. Inputs: S = Underlying Security Price X = Exercise Price PV(X) = Present value of the Exercise Price, discounted at a rate of R = X * (e^-(R * T)) V = Volatility R = continuously compounded risk free rate = 2 * [ ln (1 + Interest Rate / 2) ] T = Time to Expiration W = warrant value per underlying share Z = number of shares underlying warrants Value = total warrant value Formulaic inputs: D1 = [ ln [ S / X ] + (R + (V^2 / 2)) * T)] ÷ (V * ÖT) D2 = [ ln [ S / X ] + (R - (V^2 / 2)) * T)] ÷ (V * ÖT) Black-Scholes Formula W = [N(D1) * S] — – [N(D2) * PV(X)] Where “N” is the cumulative normal probability function Value = W * Z
Appears in 1 contract
Illustrative Example. Inputs: S = Underlying Security Price X = Exercise Price PV(X) = Present value of the Exercise Price, discounted at a rate of R = X * (e^-(R * T)) V = Volatility R = continuously compounded risk free rate = 2 * [ ln (1 + Interest Rate / 2) ] T = Time to Expiration W = warrant value per underlying share Z = number of shares underlying warrants Value = total warrant value Formulaic inputs: D1 = [ ln [ S / X ] + (R + (V^2 / 2)) * T)] ÷ (V * ÖT√T) D2 = [ ln [ S / X ] + (R - (V^2 / 2)) * T)] ÷ (V * ÖT√T) Black-Scholes Formula W = [N(D1) * S] — [N(D2) * PV(X)] Where “N” is the cumulative normal probability function Value = W * Z
Appears in 1 contract
Samples: Warrant and Registration Rights Agreement (General Growth Properties Inc)
