Opendoor has announced a shareholder distribution of three series of tradable warrants. Eligible shareholders have received one warrant in each of the three series. For every 30 shares Opendoor Technologies in your portfolio you have received 1 warrant K-series, 1 warrant A-series and 1 warrant Z-series.
Example: If you had 100 shares Opendoor Technologies, you have received 3 warrants of each series in your portfolio. You can see it in your portfolio like the example below. You can add the columns symbol and/or ISIN to make the difference between them more clear.
What are these warrants and what can I do with them?
These warrants will give holders the right to buy an underlying share for every warrant in portfolio and this until the 20th of November 2026. In the above example where you have 3 warrants of each series you can:
- OPEN Z.xnas series (Z-series): With 3 warrants OPENZ.xnas you have the right to buy 3 shares Opendoor Tech at a price of 17 USD a share.
- OPEN W.xnas series (K-series): With 3 warrants OPENW.xnas you have the right to buy 3 shares Opendoor Tech at a price of 9 USD a share.
- OPEN L.xnas series (A-series): With 3 warrants OPENL.xnas you have the right to buy 3 shares Opendoor Tech at a price of 13 USD a share.
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Important note! The issuer has also defined a price condition based on the 30‑day volume weight average price that, if met, may lead to early exercise and/or accelerated expiration. Any such event will be announced by Opendoor on its investor relations page. For more information on the possibility of early exercise we refer to the announcement page of the company (click here). |
Can I sell or buy the warrants?
Yes, the warrants are designed to be tradable. Once the instruments are listed and available through our platform, you will be able to view quotes and trade, subject to market availability and your account permissions.
Symbols, ISINs and exchange venue will be added to the platform when confirmed by the issuer and the exchange. We will update the instrument details in the platform accordingly.
How can I exercise my warrants?
You will receive a notification from Saxo that a corporate action event is available at the Corporate Action page. Exercise will only be worthwhile from the moment the share price of Opendoor Tech is above 9 USD (for the K-series. In the event on the corporate action page you will be able to exercise your warrant(s).
Can I be taxed?
This distribution may be treated as a dividend in kind. Saxo will apply withholding tax where applicable, in accordance with the issuer’s jurisdiction and your tax profile.
What are the risks of holding a warrant?
- Warrants can expire worthless if not exercised or sold before the deadline and when/if the underlying share price remains below the exercise price.
- An issuer‑announced volume weight average price (VWAP) may lead to early exercise windows and/or accelerated expiration. Stay alert to notifications and keep an eye on the companies website.
- Market liquidity in newly listed warrants may be limited and prices can be volatile.