elaborate a little on the warrants?
First, that can be exercised in Sept.interesting is not what I said (I hope!) or meant. The connection with September is that CPST is not allowed to use the ATM (At The Market) facility provided through Cowan and Co. through September.
That restriction, of course, is to prevent CPST from issuing shares, likely depressing on prices as was seen over the last 3(?) qtrs at about ~17% dilution each qtr, effectively negating the warrant holders efforts/chances at getting to a profitable position on the A & B warrants.
Speculation by me includes the strong feeling that the originally-issued shares of the offering were immediately sold to the market, preventing any loss to the purchasers (and in fact, likely they shorted before the shares were issued and then covered with the issued shares).
Beyond that, I have only (admittedly inconsistent) memory capacity of all the details, which are available in the filings.
IIRC, it was Hillzman that reminded of the $2.25(?) exercise price and I don't recall for sure, but I think I read in the filing and posted in the past about the restriction.
I'd dig, but I'm very short of time. Links to the stuff is available in past posts but it's likely faster to go straight to Edgar.
If you have no success, I'll hit my bookmarks this weekend and offer a link to the filing documents.
At my age, and with the quantity of learning I'm attempting, I have spotty memories sometimes.
HTH,
Bill
