A warrant isn't a share but you most certainly can sell it (different from exercising it). You can buy and sell warrants just like you can buy and sell shares of stock (although some additional restrictions may apply, but for the most part they can be handled the same way by most brokers on your behalf). The biggest difference between warrants and options is that warrants will buy you new shares of stock, increasing the company's outstanding share count.
As for "upon exercise", I wrote earlier and still contend that the phrase has no context in time; it can be used to reference past, present, or future events. "Upon" really just means "at the time of" when used in this context. To garner any time reference, one must look at the other related statements in the Form 13G, and it will quickly indicate that this activity was a past occurrence (otherwise there would have been no need for the SEC to be involved at all).
I didn't laugh at the capital gains/loss suggestion, but I would certainly want to know why that is viable. In general, they would be buying stock for about $6M and they would need to sell it for a loss in order to claim a loss. The event date per the form 13G was December 31, leaving them no time to sell those shares on the open market, so they could be prepping for tax loss selling for 2020. But isn't the limit for tax loss selling something arbitrarily low, like $3000? And only used to offset gains? Unless there are vastly different rules for Anson, I don't see it as a viable ploy, but I don't know that other rules may apply to them as an investment firm.
The whole thing remains very odd, enough so that I don't foresee an explanation coming forth any time soon.
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Ok, so people are laughing at my suggestion about capital gains losses on their taxes. Fine, but think about it. If you were a company teying to cut loss on warrants you purchased, how do you do it? A warrant isnt a share so you cant just outright sell it...and why would you buy more shares on the market from a company you assess is dead in the water? So, you convert/exercise your warrants to acquire the underlying stock, then sell it at a l9ss and file it as such on your taxes. It is odd I grant you...but no one on here has posited a good reason why a company would do such a thing. As for the repeated "upon exercise"...got it...they may not have done so yet....my point is, turning it into a tax loss that can be written off is an option. Not much different than any of us selling stock and doing the same thing. How would you reduce loss if you owned warrants?
