Iridium Communications Inc. $11.50 Warrants (IRDMZ)

IRDMZ identified a series of warrants issued by Iridium Communications Inc. that allowed holders to buy one share of Iridium common stock for $11.50. Iridium became a public company in September 2009 by combining with GHL Acquisition Corp., a blank check company sponsored by Greenhill that had held its initial public offering in February 2008. After the merger the company had two warrant series, one with a $7.00 exercise price and one with an $11.50 exercise price.

The $11.50 warrants began trading on Nasdaq under IRDMZ on October 16, 2009, after Iridium's registration statement for the underlying shares became effective. The separate $7.00 warrants traded as IRDMW; most of them were swapped for common stock in a 2012 exchange offer and the rest expired in February 2013. The IRDMZ series stayed outstanding longer, with an exercise period ending on February 14, 2015.

With Iridium shares trading below $11.50 for most of their life, few of these warrants were worth exercising. About 277,000 IRDMZ warrants were still outstanding in January 2015. They last traded on February 13, 2015, expired the next day, and were then delisted, with no effect on Iridium's common stock. Iridium continues to operate its global satellite network, and its common shares trade on Nasdaq as IRDM.