Tender Offer Arbitrage: Payoneer Will Pay You For Its Warrants

Muhla1 The Thesis On August 12, 2024, Payoneer Global Inc. (NASDAQ:PAYO) offered to buy back all its outstanding warrants for a fixed price of $0.78 each. The offer is not subject to financing conditions, approvals, or minimum or maximum number of warrants tendered. Translation: all warrants you tender will be purchased. During the most recent trading day (September 3, 2024) the warrants traded for $0.7725 for most of the day. This allows you to purchase warrants in the open market for $0.7725 and tender th ...