Paramount Skydance Sets $12 Warrant Exercise Price, Expects 471M Warrants Worth $5.7B in Proceeds
PSKY sits 26% above its 52-week low of $7.62 on elevated volume (2.3× avg).
Summary
Paramount Skydance finalized warrant distribution terms: $12 exercise price, ~471M warrants, potential $5.7B in proceeds. Stock moves to NYSE as SKYD on October 6, 2026.
Updates
· SEC 424B5 — The 424B5 prospectus supplement registers the 471.3M warrants and underlying Class B shares, with exercise price $12.00, record date October 5, 2026, issue date October 13, 2026, and expiration ten years from issue.
Key Events · Financing and Capital Events · PSKY
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Warrant Distribution Terms Finalized
Each warrant entitles the holder to purchase one Class B share at an exercise price of $12.00, subject to anti-dilution adjustments. Approximately 471 million warrants are expected to be issued on October 13, 2026.
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Potential $5.7B in Proceeds
If all 471 million warrants are exercised for cash through Physical Settlement, the company would receive approximately $5.7 billion in gross proceeds at the $12.00 exercise price.
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Listing Transfer to NYSE
Class B common stock transfers from Nasdaq to NYSE effective October 6, 2026, with the ticker changing from PSKY to SKYD. Warrants will trade separately under ticker SKYDW.
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Company Renaming
The company will change its name to Skydance Corporation effective October 6, 2026, in connection with the expected closing of the Warner Bros. Discovery acquisition.
Analysis · PSKY · Technology
The final terms of the warrant distribution tied to the Warner Bros. Discovery acquisition have been disclosed. Each warrant entitles holders to buy one Class B share at $12.00, with approximately 471 million warrants expected to be issued. If all warrants are exercised for cash, the company would receive approximately $5.7 billion in gross proceeds. The warrants will trade on the NYSE under ticker SKYDW, while the Class B common stock moves from Nasdaq to NYSE and changes ticker from PSKY to SKYD, with the company renaming itself Skydance Corporation. This is a significant capital event that provides clarity on the financing structure of the $110 billion WBD acquisition, though the $12 exercise price is above the current $9.60 stock price, meaning warrants are currently out-of-the-money.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 36.9% of the 964 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.65%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PSKY was trading at $9.60 on NASDAQ in the Technology sector, with a market capitalization of approximately $10.7B. The 52-week trading range was $7.62 to $19.45. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.