System1, Inc. (SSTPW) Warrant
Each SSTPW warrant gives the holder the right to buy 1 share of System1, Inc. at $11.50 per share, until January 27, 2027. There are 16.80M listed warrants; exercising all of them would add 160.2% to the 10.49M shares outstanding. The company can call the warrants if the stock trades at or above $18.00.
Stock vs strike, last 12 months
No share-price history for the stock yet.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- 2027-01-27
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- —
From the issuer's 424B4 (2020-06-18).
Company and stock
- Company
- System1, Inc.
- Underlying stock
- —
- Share price
- —
- Market cap
- —
- Shares outstanding
- 10.49M
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- —
- Price / model
Get Pro to see whether SSTPW is cheap or rich against our model.
Dilution
- Shares outstanding
- 10.49M
- Listed warrants
- 16.80M
- Dilution if all exercised
- 160.2%
Warrant count from filing notes, read by hand (medium): Warrants (former Trebia Public Warrants).
Filings and events
Questions about SSTPW
When does the SSTPW warrant expire?
SSTPW expires on January 27, 2027.
What is the strike price of SSTPW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
Can System1, Inc. redeem the SSTPW warrants early?
Yes. The company can call them if the share price reaches $18.00 for the required period (usually 20 of 30 trading days).
How many SSTPW warrants are outstanding?
16.80M listed warrants, equal to 160.2% dilution if all are exercised.