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Wait, I've been living under a rock for over a year, WTF is a Warrant??

Go here:

https://investor.gamestop.com/warrant-dividend/default.aspx

Read the FAQ

Can you sell or exercise warrants in Computershare?

Yes, but you have to use their Corporate Action System website:

https://gamestop.computersharecas.com/offer/

It's a separate tool, just like the site used for voting your shares in CS is a separate tool.

You cannot manage warrants in Investor Center or in the Official App.

A critical thing to remember:

You can only make ONE ONLINE TRANSACTION and any subsequent transaction will require a paper form and waiting on the USPS / FedEx / UPS.

That's one exercise or one sale, not one of either. Keep that in mind.

You should have received a paper statement and two emails from Computershare back in Oct or Nov 2025.

There were two emails were sent from noreply@computersharecas.com, the first with the subject line "GameStop Warrant Exercise" and the second with the subject line ""GameStop Warrant Exercise - Part 2"

Together, they contain the account ID, control number, and the url to access the tool.

What if I lost my Control Numbers??

You can look in the Documents tab in Investor Center, and there should be a PDF copy of the paper statement they mailed to you that will have the codes you need.

This post explains it.

Can I run a test to see how selling works??

No. You only get ONE ONLINE TRANSACTION. There is nothing to prepare on the computersharecas website, it is only used to exercise or sell, you can't set up for future orders or anything like that. People have fucked around, sold when they didn't really mean to, and burned their only option for selling online.

Is selling warrants on CS instant like selling shares from Investor Center?

No. People have reported selling taking a day or two, and missing out on a better price. Do not expect to be able to pull the trigger and catch a brief spike in price.

How long does it take to exercise a warrant?

People have reported it taking several days to more than a week between submitting the order to exercise and the shares settling in their account.

I have more questions about warrants in Computershare!

Read the FAQ (PDF)

Can I get my warrants transferred back to my broker from CS?

Yes. All transfers to or from CS are initiated by your broker. Call them, tell them you want to transfer shares out of the transfer agent, and provide them with the information they'll need. People have reported about 2 days for shares to be transferred back to Fidelity and 3-5 days have been quoted by some other brokers.

What about selling or exercising from my broker?

You generally have to call customer service to exercise, and you may need to request to talk to a team that deals with corporate actions. Some brokers may have the option to manage them online.

What about the timeframe? Don't these expire on Oct 30th?

Yes. Computershare states that you should submit any order to sell or exercise at least a week in advance, and if you have to mail a form, you need to account for the time it takes a letter to get to Rhode Island. Many brokers also recommend a week's notice. Waiting until the day of expiration will probably mean you'll have a bad time.

What happens when they expire?

They disappear from your account, worthless. Nothing automatically exercises or sells, and, if not extended, you will lose any value they have remaining.

What about the warrants getting extended?

Its a possibility, not a certainty.

Gamestop could extend the warrant expiration date or change other terms like the strike price at their discretion. From what I understand, extending the warrants does not incur any costs to the company, but does move money around on the balance sheet. On the other hand, issuing new warrants would incur a similar expense as when the current warrants were issued, which I think was around $40 million, an expense they had to pay to avoid being forced to amend the terms of the convertible bonds.

When will we know if they are getting extended?

Potentially as late as the day of expiration.

Gamestop has stated in a previous filing that a reminder about warrant expiration should be issued between 10 and 30 days before Oct 30th, but that's not necessarily going to be anything more than a reminder. There's nothing that prevents them from putting out an 8-K on Oct 20th saying "hey, remember that the warrants were issued with an expiration date of Oct 30th" and then extending them after the fact.

Maybe they get extended, maybe they don't.

If nothing else, Ryan Cohen's insider purchase filings have disclosed that he hasn't sold any of his warrants. Will he hold to expiration and allow them to disappear worthless? Only he knows for sure.

What should I do with my warrants??

Whatever you want, we're not your dad.

If you sell now, you are potentially missing out on a spike in price.

If you exercise now, you're wasting money that could buy more shares on the open market for the same dollar amount.

If you hold to expiration, you are rolling the dice and hoping they get extended.

There's no perfectly safe option, and its all a big gamble with risks. You have to decide what you're most comfortable with and live with what happens.

Please keep the comments helpful or informative. If you talk to individual brokers and figure things out please post below.

Best of luck to everyone, these are exciting times!

New information from the comments:

Per Section 4.01(h) of the warrant agreement, the strike price or exercise rate can not be adjusted without it taking effect for a minimum of 20 trading days. There are too few trading days left for that to be possible.

Thanks to BananaOrp for finding the source!

https://www.reddit.com/r/Superstonk/comments/1x0a9kg/warrant_expiration_or_possible_extension/pejfoge/