No. of Recommendations: 1
Vote of confidence in management I suppose but how dilutitive(sp?) is it to the share price?
There were 2 transactions. Please see the other in response to this query for all the details.

As for vote of confidence, I think the holders who exercised the cashless warrants are part of a investor group that is also part of the management. So, I would not read it one way or other.

Likewise, if someone had bought the warrants cheap and decided to exercise and take shares, that is good. I would not read much into this because they could have shorted the shares in the market and covered it by exercising the warrants you never know.

We just have to wait and see whether the management is willing to make some offer for warrant holders but given the cashless exercise done at $13.13 close to 52 week high, I am not expecting the warrants to get much of a deal.
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