An irregular event, such as a division write-off or acquisition of another company, that needs to be explained to shareholders in an annual or quarterly report. Earnings will normally be calculated and reported before the effect and after the effect of extraordinary items. An investor who buys a stock that is ex-warrants are not entitled to the stock's warrants. An investor, for example, who buys a stock on April 25 that has gone ex-warrants on April 23, will not be entitled to receive those warrants. The warrants belong to the shareholder of record on April 23.
Warrants permit the holder to buy stock at a specified price at a future date.
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