Wrong. 13G is only required for 10% owners. I.e. one individual would have to have increased their own total ownership to more than 80M shares to become a mandated 13G filer. Who the heck said that any individual was holding 80M of the total 100-150M exercised warrants such that they crossed the threshold into being a new 13G filer? Sure, some individuals will have retained some or all prior owned shares as well as redeeming warrants, but generally, nobody much wants to be a 13G filer and henceforth be forced to report when they sell. In any case, the non-insider ownership was nowhere near concentrated into the hands of just 1-2 or 3 owners as you would have it. After the esteemed Mr. Woodford's fund, I'm sure the record on the shares plus warrants offerings made clear that there were multiple participants in all the offerings.
To further cross fact check your incorrect assertion vs mine, examine the available data on daily trading volumes. Find the rise in outstanding shares per Capt Oblivious' running count to find exactly when the last 100-150M shares worth of warrants were exercised; then tally the running cumulative daily trading volumes across that period. Ask yourself where the new shares were sold as the cumulative increase in outstanding shares barely if at all exceeds the entire cumulative trading volume across the same periods and since. Or even much easier, simply compare by eyeballing the average daily volume in (and since) the periods of warrant redemption to the daily average in prior periods and ask yourself why the average daily trading volume barely budged while 150M new shares were created and according to you, sold.
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