CIO
If merger goes through, that is very good news for warrant holder. Slowly warrant will go to is value. ( Common price - strike price ).
Either common will go down or warrants will go up.
Warrant is better play here ( from risk point of view or leverage point of view).
Eventually, new company fundamental which is THE MOST IMPORTANT factor.
IF MERGER FAILS, WARRANT WILL BE WORTHLESS.
Please do your own due diligence. My post is for information only.