Warrants give you the option to purchase a share at $11.50 (once the shares are registered). They can be called once the stock trades over $18 for 20 of 30 days. They trade at a bit of a discount to intrinsic value until they've been called. Then they trade at intrinsic value. For example if SP is $18 that makes the warrant worth $6.50 (11.50+6.50=18). You won't see intrinsic value until the warrants have been called. For example the SP was $17 a couple weeks ago and the warrants were only $4 whereas if they were at intrinsic value they would be $5.50. Warrants trade like a normal stock and the ticker is the same with a W, WS, or WA behind the ticker. AMCI warrants are AMCIW.
Obviously do your own due diligence and understand how the warrants work and the risks involved (value=$0 if merger fails). Also note that not all warrants are equal. Some are 1:1 and some are 2 warrants to redeem for one share. AMCI is 1:1. A 2:1 warrant should be half the value of a 1:1 assuming everything else equal.
Huge leverage on warrants if you work the numbers.
Good info here.
https://corpgov.law.harvard.edu/2018...-introduction/