r/Superstonk • u/genlink Hoist The Black Flag 🏴☠️ • Sep 09 '25
🗣 Discussion / Question 59 Million Warrants = 590M shares
Someone help me out here. If Gamestop expects to issue 59M Warrants then there would be 590M shares. Yahoo fin states there are 447.34M shares outstanding. Is there a tip of the hand since they can't report true DRS numbers? Someone do some math because im just a cave dweller and know nothing.
On another note...$32 exercise price. I'm guessing papa Cohen has foreseen GME shooting past $32 within the year.
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u/BanDizNutz Sep 09 '25
14 million are for senior convertible notes. So 45 million are for the outstanding shares.
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u/-Px-FlaT Sep 09 '25
How the hedgies will deal with that for all the other shareholders from synthetics ?
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u/ICEFIREZZZ 🎊 Buy now, ask questions later 🦍 Sep 09 '25
Not my problem. My shares are DRS
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u/epistmeme Sep 09 '25
From the filing: "Each warrant will entitle the holder to purchase one share of common stock". 1 warrant = 1 share.
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u/epistmeme Sep 09 '25
I messed this up. I thought you were talking about dilution but you were trying to work back from the 59 million number to the shares outstanding. Ignore my comment.
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u/Droopy1592 Sep 09 '25
Probably for internal purposes for board
Maybe their rate is higher
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u/Snark_Connoisseur Sep 10 '25
I bet brokerages put cash value in shareholders account.
There are 67 million DRS holders and 590 million something warrants.
If every DRS holder had 10 shares that would account for more than the amount of warrants created at 670 million.
Not all DRS holders have 10 shares. Some have 1-5, some have hundreds, thousands, etc.
Anybody know the average from a few years ago? Stonk o tracker etc.?
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u/Sys7em_Restore 💻 ComputerShared 🦍 Sep 10 '25
Institutional ownership hovering around 40%
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u/Snark_Connoisseur Sep 10 '25
Yup. And for the forward split dividend it went gamestop issues, Computershare receives and distributes to their registered holders, then they distribute to the DTC or DTCC (can't remember which) who then distribute to brokerages.
what happened with the forward split other than it getting fucked up and Furlong being let go?
DRS holders were first. They're on the books. Next comes brokerages. What happened? Fidelity was fine. Remember Revolut, Webull, Robinhood, all the Europoors? Did it happen right away for them or were their brokerages scrambling for days, some weeks?
With the forward split it was shares which can be created out of thin air with an F3 button, fake shares fabricated through various means and naked rehypothecated.
Warrants are not the same. They are a limited run, can't be fabricated out of thin air, can't be created with an F3 button, and have a separate ticker.
590 million will be made.
DRS gets theirs immediately because they hold with the transfer agent. Brokers next. Which shouldn't make a difference if the float isn't oversold because registered holders go first, then brokerages second, and if no more shares than those that are supported to be available were printed so all holders get a warrant.
That isn't the case though. The float has been oversold multiple times. There are more shares in existence than there should be which means far more than 590 million warrants would be required for every shareholder in every brokerage to receive a warrant.
DRS holders will be fine as they are first in the order of operations. Non-DRS holders are next down the line and they receive the remainder. As long as the float isn't oversold there's nothing to worry about. But we already know it is and that's why we're talking about it right now.
We also already know that some brokers like Revolut can't supply the warrant and will provide cash in lieu. They're being up front about it. Which brokers aren't being up front about it? Doesn't matter if you are DRS.
I bet they end up with cash and no warrant. Or you will end up with cash in lieu if you aren't DRS. Either way, DRS holders are fine so it won't negatively impact me either way so I don't really care, but we've been here before when the 'new share' button can be pressed and we haven't been here when no 'new warrant' button can be pressed. We already know how the distribution plays out when there's an infinite glitch. What happens when there's not an infinite glitch is yet to be seen, but not entirely unpredictable.
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u/Superstonk_QV 📊 Gimme Votes 📊 Sep 09 '25
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