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Tuesday, October 24, 2023 11:42:00 AM
Warrants will NOT be exercised. That was NOT their intended purpose.
The intended purpose of the warrants was to provide enhanced taxpayer value. This post addresses that.
The warrants are not, never were, and were never intended to be collateral.
They fail the very definition of collateral anyway because commons sit at the bottom of the capital stack and are the first thing to become worthless if the company is having financial trouble.
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