It is possible LP is making room for 200M or so shares worth of capital raises that is short term. So about $20M in addition to what cap room she had left.
I really doubt a BK is in play. That would only happen if LP wants it to and I do not see why she would do that as this moment. There are no large creditors to force her. Cognate has agreed to terms, Advent is friendly, Bigger and friends are somehow allied, and the local power company does not take you to BK court for failing to pay the lighting bill.
LP can always find ways to get cash, at what price is what matters.
If (and again, I do not think it will happen) there is a BK, the warants are almost certainly worthless and do not dilute.
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