It's a shame about the warrants, but I am sure they got the best deal they could. The debt markets must still be very risk averse. On the positive side, extension to 2022 is huge, which will probably allow a better 1st lien refinancing than they otherwise would have gotten, and they save an extra $5 million/yr in interest expense starting in a couple months. The other positive is that the warrants are not at a discount to the current market price. Getting lenders to accept $4 warrants was a wild pipe dream just a couple of years ago.