BkackAdder,

If the lower priced warrants do not expire until November 2020, the holders will likely keep them till then. However, if those warrants are not tradable, which I'm pretty sure they are not, I could see a holder exercising early and then immediately selling the shares.  They would do that if (i) they needed money now, (ii) they felt the stock is headed back down after it rose sufficiently to put their warrants in the money and they thought the warrants would expire worthless in November, or (iii) Poet asks them, "pretty please exercise  now, we could use the cash."

The final choice has been known to happen, but usually only when the warrant holder is somehow enticed.