Agreed, in private equity, offering warrants typically is a way of sweetening an existing round without having to call it a down round per se. If all goes well, they can enhance the investor's payday significantly upon exit.
Many secondaries use warrants. Its either That or give a big discount to the closing price - they Priced it at yesterdays close. Everything considered re Xomas recent lenghtning of the timeline I say Again this could have been worse. To me it looks Like they found willing investors.
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