The Piggies could be indeed golden (precious)...the only way to acquire them will be via exercising PAROA options on a one for two basis.
Once PAROA's expiration date has passed, you wont be able to easily buy/acquire the Piggies (maybe a secondary market, but that will be rare and certainly it will not be thru any official channel. Ie Private sale, but not sure if they could be transferable?).
The Piggies exercise (strike) price isn't much more than PAROA ($1 -v- 0.65) but the further two years expiration is the equivalent to a LEAP (Long term equity anticipation), in other words you will have almost three years from today to ensure that PAR's share price is greater than $1,00, I think while there still might be some risk of that not playing out, it is indeed miniscule.
Personal views expressed.
PAR Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)