The higher the SP goes, the less shares one need to sell to pay for their warrants.

Therefore they would excercise as late as possible now as the shareprice wants to and most likely will go up, finally.

At least, that's what I would do. 
There is still the acceleration clause though and the management asking for early conversion to be better cash managed.

However, as said before, it's just temporary. And if we are all lucky and all plays out as planned, there won't be any necessity for any further warrants attached to PP or financings in the future. POET could do those without warrants, as the tide has turned, IMO.

POET management has hopefully the same understanding as they must see, that warrants have and always will be used as a tool to short and they do hold the SP back. Which makes future financings less favorable for the company, as a lower SP is always bad. 

Vicious cycle I guess, but it was necessary in the past, not so much hopefully in the future.