What is a Settlement Warrant?
A settlement warrant is a freely tradable warrant that gives the holder the right to purchase from Raytheon one share of Raytheon common stock at a price of $37.50 per share for a period of five years starting on the Warrant Issue Date. These warrants will be listed on the New York Stock Exchange for trading. As a consequence, after the date of issuance, the value of the settlement warrants will be determined by the market and may decrease or increase over time.
