The following factors always influence the price of a warrant with collateral:

• The market price of the underlying stock and the exercise price: are two critical factors in determining the intrinsic value of the warrant. The difference between these two factors directly affects the warrant's price with collateral. For example:  
   

• Time to expiration: This reflects the time value of the warrant with collateral. The longer the expiration time, the higher its value.
• Interest rate: Changes in interest rates also affect the determination of the price of the warrant with collateral