"If I were a banker hoping to get as much of my principal back as prudently possible, I would want to see the warrants exercised and the stock sold asap."

Well put and couldn't agree more, providing the debenture holders are in fact bankers. Do we know this for sure?

Here's an intersting quote I found that has another outcome of a failed debenture:

"The debentures can also be redeemed at maturity for shares of common stock at 95% of the market value at a pre-defined time before maturity."

Maybe the lenders already know POET's future value and Sheldon could run out of time. They would get back something regardless of the outcome, and probably more so in the above scenario.

Still IMO