Overview
- Shareholders holding at least 30 shares on Nov. 18 will receive three tradable warrants per 30 shares with $9, $13, and $17 exercise prices that expire in November 2026, with distribution slated for Nov. 21.
- The company says listing the new Series K, A, and Z warrants under tickers OPENW, OPENL, and OPENZ remains subject to shareholder approval.
- CEO Kaz Nejatian disclosed buying 125,000 shares for about $1.004 million ahead of the record date and has pitched the plan as a move that could "ruin the night" for short sellers.
- The stock rose roughly 24% over the past week before late-week profit-taking, with investors weighing dilution risk and short interest near 22%.
- Q3 results showed revenue of $915 million above estimates but wider losses, including a $90 million net loss and weaker adjusted EBITDA, as leadership touts AI-driven improvements under Nejatian and the return of co-founders to the board.