I am trying to obtain the PE Ratio and earnings per share of Canvas Energy
I held 23,000 shares in the company *Chaparral Energy before they issued Chapter 11 for the second time in 5 years and then changed the name of the company to Canvas Energy, I now have 120 shares of the company in warrants. I am trying to obtain a cash settlement of the warrants as I need the money. Value $9000*
I have received this reply below from the investor department of the company but I want to check the details they have sent and confirm the valuation, the company turnover is 700M they have large cash reserves and I think they are just fobbing me off so they don’t have to cash settle my warrants.
Can anyone help ????
[https://canvasenergy.com](https://canvasenergy.com/)
Thank you for reaching out.
Per the exercise mechanics within the warrant certificates, should you exercise your warrants then the Board determined Fair Market Value must exceed the Tranche A exercise price of $122.23 for Tranche A warrants and exceed $142.60 for Tranche B warrants in order to receive any shares for the warrants. If you wish to exercise your warrants and the Fair Market Value determined by the Board is below those per share exercise prices ($122.23 and $142.60) then you would not be issued any shares and would no longer have any warrants.
Some information that may be helpful for you prior to determining if you wish to proceed in exercising your warrants:
* We are aware of recent trades made in the secondary market at a per share price of \~$45
* The company ran a tender process which was finalized in December 2023 in which shares were re-purchased at a per share price of $48
* I cannot say what per share Fair Market Value the Board would assign to the shares in the event of a warrant exercise, but, for the sake of illustration, if the Board adopted the recent $48.00/share tender price, since it is less than the warrant exercise price, the net exercise of the warrants would result in the issuance of **no shares** to the warrant holder (there would be no shares issued, the warrants would no longer exist and there would not be any cash consideration involved)
Once you’ve had a chance to review, please don’t hesitate to follow up with any further questions.
Source: Papluch