TLDR
- Xerox drops 6% as warrant distribution hits holders; stock chops near $1.95.
- Xerox issues 1 warrant per 2 shares; $8 exercise price and 2028 expiry set.
- Xerox allows warrant exercise with cash or designated debt notes under set terms.
- VWAP triggers can end debt-based exercise or accelerate warrant expiration timing.
- Xerox applies to list warrants as XRXDW as shares test $1.90–$2.05 bands.
XRX stock drops 6% as warrant distribution hits shareholders today, as trading reflected the new security action. The stock traded at $1.9435, down 6.11%, after sliding from the $2.07 area. However, it bounced off the lows and then held near $1.95 during choppy trading.
Xerox Holdings Corporation, XRX
Stock action tracks warrant distribution session
Xerox Holdings Corporation stock drops 6% as the warrant distribution hits shareholders today, and the move kept the shares below $2.00. The stock stabilized after the decline, yet it failed to reclaim the prior morning area. Meanwhile, the tape showed short swings around $1.95 as volume flowed through the session.
Support formed near $1.90, and a deeper level sat near $1.87 during the slide. However, the stock held above those levels after the rebound, and price rotated in a narrow band. Resistance stayed near $2.00 to $2.05, and the stock could not push through that zone.
Xerox Holdings Corporation stock drops 6% as warrant distribution hits shareholders today, and the pricing matched a risk-off tone. The market priced the added structure news quickly, and sellers controlled most of the day. Still, buyers defended the lower range, so the stock avoided a straight drop.
Warrant distribution sets ratio, price, and expiry
Xerox Holdings Corporation stock drops 6% as warrant distribution hits shareholders today, as the company distributed warrants on February 12, 2026. Xerox set February 9, 2026 as the record date for eligible common shareholders. The company issued one warrant for every two shares, and it rounded down to whole warrants.
Xerox also distributed warrants through certain convertible notes and preferred stock on a pass-through basis. The eligible securities included the 3.75% convertible senior notes due 2030 and the Series A convertible perpetual voting preferred stock. Additionally, Xerox directed holders to contact brokers for holder-status questions.
Each warrant carries an $8.00 exercise price, subject to anti-dilution changes under the agreement. Holders can exercise for cash at any time before expiration. The warrants expire at 5:00 p.m. New York time on February 11, 2028, unless early conditions trigger.
Debt exercise mechanics and capital structure context
Xerox Holdings Corporation stock drops 6% as warrant distribution hits shareholders today, and the terms also allow debt-based exercise. Xerox designated eight debt series for exercise, including 5.500% notes due 2028 and 8.875% notes due 2029. It also included the 3.750% convertible notes due 2030 and 13.000% step-up notes due 2030.
Xerox added 10.250% first-lien notes due 2030 and 13.500% second-lien notes due 2031 as eligible series. It also named 4.800% notes due 2035 and 6.750% notes due 2039 for eligibility. For $2,000 notes, delivery of one note exercises 250 warrants for 250 shares.
For $1,000 notes, delivery of one note exercises 125 warrants for 125 shares. For $1 denominations, holders must deliver at least $8 face value per warrant. Xerox also tied debt exercise rights to VWAP tests, and it can redesignate eligible debt.
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