Expiring Warrant

Trading expiring warrants involves significant risks:

• Time Decay: Warrant values decline rapidly as expiration approaches, especially in the final days before expiry.
• Potential Total Loss: Warrants that expire out-of-the-money become worthless, resulting in 100% loss of investment.
• Reduced Liquidity: Trading volume may decrease significantly as expiration nears, making it difficult to exit positions.
• Price Volatility: Warrant prices can be extremely volatile close to expiration, leading to rapid gains or losses.
• No Extension: Unlike some options, covered warrants have fixed expiration dates and cannot be extended.

Please carefully consider your risk tolerance and investment objectives before trading expiring warrants. Consult with a qualified financial advisor if you have any questions.