fractional shares will be lost In the conversion, fractional new shares will be lost. If you are going to be buying or selling anyway, you might want to make sure each of your holdings ends up with a multiple of 200 common shares or 400 preferred shares, which will turn into 1 new common share and 25 new common shares respectively. There's no real way to avoid throwing away fractional warrants.
Depending on where you trade, your trade fee might be bigger than the loss you will suffer from fractional shares so this only really makes sense if you were planning to buy or sell anyway.