Definitely some confusion of that "registration" stuff, but I think it's just boilerplate - the notes will certainly be converted to common shares, else the note holders would get nothing.
Will be interesting to see what happens after Sept 12 when the deal closes and the ~ 60M new shrs hit the market -
Not sure there is confusion in the "registration stuff"; just uncertainty. The shares won't be registered when they are issued at the time of the conversion on Sept. 12; so they won't be "hitting the market." At least, not then. The uncertainty is how long the lock-up period is (how long after their issuance before they will be registered, e.g., 30 days, 60 days, longer, and then be tradeable). There is surely a registration rights agreement that was executed between the company and the debtholders at the time of the loans that specifies the lock-up period and obligates the company to thereafter register the shares. Once they become registered, then we might see some volatility resulting from some/all of them being sold.
I doubt note holders were nudging AMRN. Unless I am guessing incorrectly about the note terms (and I could be), it would have been to the noteholders advantage to keep the notes (keep the interest coming, retain debtholders' superior right to assets in the case of a reorganization, while retaining conversion rights), though I suspect that since their capital gains holding period starts on Sept. 12, they should be able to liquidate some/all in one year and receive LTCG treatment, which might have some appeal depending on their overall situation. Rather, I suspect that Amarin deemed it in the company's interest to enforce the conversion provision to reduce debt and save the interest payments (and to simplify the balance sheet).