If u hold warrants till July24 end and then either sell in market or exercise them ...Holders now will not loose on any dilution of NAV on his original holding
Eg ...In July 2024 NAV is $ 1.60 and exercise price is $ 1.25 then if all warrants get exercised then after dilution NAV looses 7 cents ...which shud be covered by selling warrants for 28 cents and over that will be profit reducing your original purchase price ....which is easily possible if SP is 1.60 then warrants can be 35 Cents
Other option is to sell head shares @ 1.60 and exercise your own warrants @ 1.25 ...which is equivalent of selling warrants @ 35 Cents ...this involves some paperwork so provides maximum value for original allotted free warrants
PS : Or one can bring fresh funds to buy new KLF @ 1.25 using his OWN free allotted warrants