JPMorgan claims the warrants were worthless after CEO Musk announced in August 2018 that Tesla had “funding secured” to be a private company at $420 per share and that the resulting fluctuation in the market weighed on the price up until the warrants were canceled in June and July 2021. This www.guideshome.co.uk guideshome guides home Website guides home co uk resulted in the shares trading well over the strike and the original prices.
JPMorgan announced that changes were made to the strike price in response to Musk’s tweet in 2018 and in the following year after Tesla separated its stock 5 for 1 in 2020. However, Tesla refused to settle at the agreed price.
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