RE: the value of the new common shares "- Existing shareholders and convertible debenture holders will get a significant number of warrants that can be executed at $31.67. Any price move above $31.67 will presumably trigger the execution of a lot of warrants. This threat may make it difficult for the share price to move above $31.67. "
If the shares trade above $31.67 ,the warrants with their 10 year maturity would be worth over $10.Who would be willing to sacrifice $10 for the privilege of triggering their warrant especially since they're not missing out any dividends.