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You risk-rewards returns of ARBB WA is outsized as it has potential 50 bagger returns vs ARBB parent at 6 bagger potential.
Do note that ARBB PA is automatically converted to ordinary shares on January 2024 with every 14 ARBB PA to 1 ordinary shares. Thus your investments is not expired but you gain by owning ARBB shares at that date. This ARBB PA is unlike other warrants which expire and is worthless there after.
This is similar to Warren Buffett’s holding Preference shares and convertible to ordinary shares in Goldman Sachs. He pocketed billions on that.