All time high for TMPS is $15. Warrants at $11.50 very likely only convertible over $11.50. More importantly, do the IPO Warrants have an expiration date? If not, then those IPO Warrant may be converted above $11.50. I'm not sure how the transaction is handled. But, typically with a stock option or variant there are two choices:
1. Convert and transfer shares to person's brokerage account by paying $11.50 in cash
2. Convert and get paid proceeds from the difference of the market price and the options or warrants price. Also, known as a cashless transaction.

posted by: robtewms (iHub)