RE:Just curious about teh 57.5 Million warrants about to expireMakes sense to me. There may be more than large investor not committed yet.
DJDawg wrote: The one thing that is a bit atypical about this particular waiting period (TLT is nothing but waiting) is that about a month from now, 57.5 Million warrants expire.
The current float of shares is around 230 m which means that if those shares had ever reached being in the money, they would have been about 25% of the total float. That is a big chunk.
I feel like I don't really understand the big picture in terms of what a chunk of 57.5 million warrants would mean to various interested parties. I can see that the cash they bring in is good but if you were a big investor about to buy in to a PP wouldn't you wait until that big chunk is expired so you are not experiencing a massive share dilution? I emailed with someone who said that the IR guys MP said that the reason that the second tranche is in limbo is that they have a potential big buyer of many million shares who is not ready to commit. If (big IF) this is true then would a big buyer be best holding off on buying until it is clear that those 57.5 warrrants are dead? If they had joined the first tranche, wouldn't it have been a major trigger? TLT gets 10 m in new cash all of a sudden. Suddenly we are done with tiny PPs and the love volume share turnover gets a spike into the high 0.3 range and the warrants are worth something? Am I making sense?
Another reason I ask is that I have always found the bid ask confusing when there are some big asks parked but never acted upon. They have felt like intentional walls to keep price from getting away. Is it possible that there is a strategy to keep things tethered for now?
Just brainstorming without coming up with any silly theories and don't have a good one as to what it all means.