BUZZ — Skydance slides as warrants trade separately; cost to insure debt hits record high
(Updates) * Skydance shares drop 25.9% to $6.87 * SKYD on Tuesday distributed 470.7 mln warrants to eligible holders, one for each share they own; exercise price is $12 per share, set to expire on October 13, 2036 * Buyers of the common stock no longer receive that right, so share price resets to reflect a distribution