77% warrant exercise is an overwhelming number in these circumstances ($5 strike, $5.30 s/p, restrictions on trading, especially given market and sector volatility).

Good to see QQ's estimate was on the money.

The implication of the exercise is very, very good. As to share price movement in response to the news, warrant exercise generally doesn't move share price dramatically, and, given all the discussion on the warrants on this board, the news likely had the most impact on posters/lurkers here (except for one poster, anyway). My guess is most here are pretty much fully invested already.