RE: Bid creep ...Some people like to sell the warrants and keep the shares that were attached, this way they greatly reduce their risk.
Remember warrants can become worthless, so some will want to sell them while they aren't. Whereas shares will always hold some value (we hope)
As far as waiting goes, there is no guarantee that the shares won't go back below $2.25.(unlikely though). Since those warrants have been under water since they became free trading in April, some of the more faint of heart may want to sell now. I'm not saying they should, I'm just expecting that some will.