As I have stated many times before. It has always been my contention that the purpose of the debentures was to recapture YA's capital outlay.
From a conservative approach this makes absolute sense IMO. Earn back your capital so as to to remain liquid and capable of investing in other companies (or back into neom) while increasing their long position aligned with 4.99% of the O/S. They continue to hold more than enough warrants to get where they need to go long term.