Warrants and Management Options - Excel Valuation Model

This Excel Valuation model is designed to value options, the exercise of which can create more shares and thus affect the stock price. This is the case with warrants and management options. It is also the case with convertible bonds. As a general rule, using an unadjusted option pricing model to value these options will overstate their value.

- Prof. Aswath Damodaran

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