Once the deal closes, I am not sure how the share price trades.
On one hand, the warrants indicate an implied share price north of $4.50.
On the other hand, what will all these new holders of shares and warrants do? Will they turn around and dump their shares, and hold on to their warrants? Naturally, all that selling would send the share price even lower than where we currently trade. If they manage to sell 4 million units, that is potentially 4 million shares for sale, if all of them want to sell out and hold onto their warrants only.
Any ideas?
