Your suggestion was that warrant holders might not agree to the repricing and vote against.  Not wether they'd exercise after it or not.  They sure as hell won't be exercising $11.50 warrants now.  So, it's a no brainer to agree to the $4.25 strike price.  

What they do after that largely depends on positive news flow before May.  Past trends would suggest it needs to be very good news to move the sp sustainably.  I like to think we'll be sitting above the acceleration price well before May at the very least.