$50 Warrants The warrants STZ allowed to expire would have cost them $50 each to convert to shares. Had they exercised the warrants the float would have increased and yet again folks would complain of dilution.
Essentially the price being low resulted in dilution being avoided at the cost to STZ.
Ask your account about how that works when you bring them coffee and donuts, they can do a better job of it than someone tapping out an explanation on a stock forum
GLTA