RE:RE:friday night releaseThe acceleration clause on the warrants that expire in January was triggered in May 2016 and they can call the warrants at anytime. The company didn't call the warrants because the biggest shareholder, Elliott (60%), told them not too, which seems like the mistreatment of minority shareholders to me because acceleration features like this are to the benefit of the company.
It is my understanding that Elliott takes responsibility for this disaster and will exercise and hold the warrants when they expire. This still seems silly to me as you would want the strongest share price and balance sheet possible going into these negotiations. Maybe they just want to do another financing down here and clip another juicy warrant at the expense of minority shareholders (again).