TRTL Now Yatra Online YTRA YTROF

2 wts plus 11.50


7/17/19 EBIX deal.  Announce Link


​Warrant preliminary exchange tender offer Jan 17, 2020

D.F. King & Co., Inc.
48 Wall Street, 22nd Floor
New York, New York 10005
All Others Call Toll-Free: (866) 796-6867
Email: yatra@dfking.com


each ordinary share of Yatra (“Yatra Ordinary Share”) will be entitled to receive 0.005 shares of a new class of preferred stock of Ebix (“Ebix Convertible Preferred Stock”). Each share of Ebix Convertible Preferred Stock received for each Yatra Ordinary Share will, in turn, be convertible into 20 shares of common stock of Ebix (“Ebix Common Stock”).


So 1/10 of ebix for each yatra in form of a preferred.

Redemption Option
The Ebix Convertible Preferred Stock will offer all Yatra shareholders the right to have redeemed, for a cash price of $5.31, the shares of Ebix Convertible Preferred Stock received per Yatra Ordinary Share. The redemption option will be available to Yatra shareholders during the 25th month after closing.  The redemption option is accordingly only available to Yatra shareholders who have not opted to convert the Ebix convertible preferred stock into common stock of Ebix before the 25th month after closing.

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As of July 20, 2018, there were outstanding warrants to purchase an aggregate of 17,537,958 ordinary shares. -----or 35,075,916 warrants outstanding to buy 1/2 share.


Pre-Closing Tender for Yatra Warrants


As of July 20, 2018, there were outstanding warrants to purchase an aggregate of 17,537,958 ordinary shares. Outstanding warrants to purchase an aggregate of 17,337,500 ordinary shares became exercisable after January 15, 2017 and will expire at 5:00 p.m., New York time, on the earlier to occur of: (x) December 16, 2021, (y) the liquidation of our company or (z) the redemption date, which shall be a date fixed by us in the event that we elect to redeem all of these warrants. The exercise price of these warrants will be $5.75 per half-share, or approximately $199,381,250 

As a condition to the closing of the transaction, Yatra will offer newly issued Yatra Ordinary Shares in exchange for 50% of the outstanding warrants to purchase Yatra Ordinary Shares (“Yatra Warrants”). It is currently anticipated that approximately 1.3 million newly issued Yatra Ordinary Shares will be exchanged for 50% of the outstanding Yatra Warrants, representing an exchange ratio of 0.075 newly issued Yatra Shares per Yatra Warrant. Assuming the value of the underlying Ebix Common Stock to be received for each Yatra share is $4.90, the value offered per Yatra Warrant would be $0.37.


So "anticipated" 1 common for 13.49 warrants or .07413 common per warrant. .075 in press release.

at 4.34 px common warrant is $0.322


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Terrapin deal. Extended. Completed with no announcement made for two days.

Make My Trip Indian competitor. MMYT