In fact the first time I heard that other warrants holders paid small amount to have warrants repriced a lot lower and extended one year longer, I believe that LP warrants would be allowed to be extended like others too. So please don’t assume LP warrants should expire automatically. The question is how much she has to pay if she is like us investors who paid money to get warrants extension and repriced lower? That amount of money will be the basis whether this is outrageous arrangement for CEO or not.
That’s a big problem. There’s no meaningful consideration for the extension, so the lawyers had to come up with some bogus “time value” argument. If someone wanted to spend the time and money, I’m sure the extension could be challenged.
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