Ex-Warrant

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Ex-Warrant

Describing the sale of a security after a warrant has been announced but before it has been distributed. When a security is sold ex-warrant, the warrant remains with the seller. Selling ex-warrant almost invariably reduces the price for which the security is sold. See also: Cum warrant.
References in periodicals archive ?
His main contender, Ex Warrant Officer (W.O.) Teye, was disqualified on grounds that he was in the employment of National Security, so he was elected unopposed.
Best wishes from Mr & Mrs J Ross, Ex Warrant officer KOSB XXV (and all the Ross brothers)."