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The parent company of AmeriBank has launched an exchange offer for all its outstanding warrants, in reaction to a problem most people might wish they had: more money than they know what to do with.
Ottawa Financial Corp. officials said they want to reduce the amount of cash received and the number of shares that could be issued, pursuant to an exercise of the warrants, which are still outstanding from the 1996 acquisition of AmeriBank.
Warrants, similar to stock options, allow the holder to buy stock shares at a discount.
OFC's warrants enable its 84 registered...