Its not exercisable right now. Nobody knows exactly when, they need to file a registration statement (and then the SEC needs to comment on it, etc). The first step is when they file the registration, which could happen at any time.
I'd be very surprised if they don't file that before the end of the year. Frankly though, I hope they delay filing this for as long as possible. I want the TMI leverage given by the warrants to last as long as it can.
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