An exception to the financial advantage question, there maybe more, was shared the other day by a poster who said that unappreciated stock could be transferred to heirs at a much lower tax rate if put into a trust now rather than later. The tax rate difference can be quite substantial for large holders of stock and options. Warrant holders are the exception to the “average” investor after all. Best wishes.
Doesn't make sense to me why you would want to hedge an investment playing both the upside and downside. Unless you were doing it to destroy the company's financial viability.