Elanco Animal Health Inc Units - ELAT is a financial instrument that includes both common stock and warrants to purchase common stock of Elanco Animal Health. Elanco Animal Health is a global animal health company that develops, manufactures, and markets products for companion and food animals.
The ELAT units were issued in September 2018, when Elanco Animal Health became an independent company after being spun off from Eli Lilly and Company. Each ELAT unit consists of one share of Elanco Animal Health common stock and one warrant to purchase one share of Elanco Animal Health common stock. The warrants have an exercise price of $32.50 and expire on September 20, 2023.
The ELAT units are listed on the New York Stock Exchange (NYSE) under the ticker symbol "ELAT". The common stock component of the unit is listed separately under the ticker symbol "ELAN", and the warrant component is listed separately under the ticker symbol "ELAN.WS".
Investors who hold ELAT units can choose to sell the common stock or the warrants separately, or they can exercise the warrants to purchase additional shares of common stock at the exercise price of $32.50 per share.
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