"But wouldn't it make sense...." Forgive me but I'd rather not speculate on what makes sense when there's not even enough information provided to make a good guess. Only a real dummy would hold shares under those circumstances.
SOME SHAREHOLDER has to get the company to provide the terms of the warrants. They are entitled to know them. When and if you do ascertain them feel free to rephrase the question with the facts in it and I'll take my best shot at it. The 3 "ifs" in your paragraph make the questions therein a waste of mental energy and mine is limited anyway....especially for this thing.
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