RE:OK I'm puzzledsjaplo wrote: The deadline for the warrants was extended due to an ongoing material event. However the blackout period was ended and the warrants were completely exercised.<br /> <br /> Why would the warrants be able to be exercised if the material event wasn't concluded?
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So I'm throwing this out once more because a. nobody responded, and b. maybe I didn't phrase the question properly;
- they had to ask for an extension on the warrants as a material event was ongoing......this was granted.
- the same day they announced the extension they all converted the warrants.
- so did they get permission to convert the warrants while the material event was ongoing or is the material event concluded?
If the latter - where the update? If the former - they must have thought the material event would be concluded before the warrant expiry date - otherwise why wait until the last minute? If so I would suggest the prospects of monetary return for the principle players are huge based on the method in which the warrants were exercised.
thoughts?