$FSR @firehawk1776 @theultimatebearhunter When I read Henrik's shareholder letter the percentages I saw in the letter about warrant dilution with and without cashless conversions were not adding up when I did a quick mental math but I had lot going on due to family emergency, hence did not take the time to calculate. But now found a few minutes to do some quick calculations. Below is the excerpt from the letter I am referring to:
"This action removes a majority of our warrant overhang in a less dilutive way than through a redemption allowing cash exercise (3.7% dilution vs 7.2%), reflects our disciplined use of cash, and demonstrates confidence in our balance sheet and overall business outlook."
My math lands me at 3.68% and 1.82% but not 7.2% and and 3.7%. Attached below is my math. If I do have any error in my math I will gladly accept my mistake if someone can point out the error.

36

6