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Monday, February 10, 2014 1:18:12 AM
Some people may have exercised them as I stated in an earlier post however that amount might have been only $500,000. That is not nearly enough for what Titan required.
There is nothing to force the warrant holders to exercise them early so even if the share price rises to $5.00 the warrant holders can continue to hold these warrants for another 4 years (the series C in this case).
Titan had no choice but to do this financing.
Many companies put special terms on their warrants. Such terms might be something like if the share price trades at $X.XX price per share for a period of 30 days the company has the right to force an early exercise of the warrants however Titan did not do this in the past so there is nothing to force an early exercise.
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