Redman's

[tenenbaum]

Thanks for this, Adam.

My feeling is that a capital raise is most likely both to improve liquidity and fund capex.

The terms of the warrants concern me a bit, though.

From the F-4:
"However, the warrants will not be adjusted for issuances of common stock, preferred stock or other securities at a price below their respective exercise prices. "

I think that this makes it likely that the raise will be <$7.5 ... which is insanely cheap, imo.

At the end of the day, I'm trying to figure out how many warrants are worth holding on to. What's your plan for the conversion?