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There are two ways of using equity warrants as a means of attracting investment. One is to collect money directly from issuing the warrants and the other is to use them in order to facilitate investment by offering middle return. For the latter, the money collected by issuing the bond with warrants is kind of debt, but the investors are given the equity warrants, kind of capital. Considering the nature of the warrants, companies hardly use the warrants as a means of raising fund. That's because the capital which companies might collect by issuing the warrants is much smaller than that they get from newly issued stocks. However equity warrants are expected to be used to collect money as the financing techniques in different financial and securities markets have highly developed. Actually, stocks are linked to the goal of corporations which is to separate management and ownership and to attract money from investors. Likewise, equity warrants which include right to achieve shares can be thought to function as a measure of financing companies. In this respect, it's a bit late but the use of the warrants is said to be put in place. (In the techniques that have been used so far, however, strictly speaking, issuing warrants is not a direct fund-raising measure since the amount of money collected is small and the money itself is not used to attract money. In conclusion, equity warrants can be a means of collecting money by using its unique feature in which pre-determined price is paid and then the money can be collected at the time the right is exercised, and the issue price is low.