I would guess that the warrants would be considered non-statutory options.
In the case of non-statutory options there are no specific AMT issues. This is in contrast to Incentive Stock Options where there are AMT issues if the shares are not sold by year end in the year of exercise. The reason for this is the special tax treatment accorded ISOs. With ISOs you don't recognize compensation income in the year of exercise while with Non-statutory programs you do recognize compensation in the year of exercise.
The only issue you face I'd guess is what amount of compensation to recognize on the exercise and supporting that estimate. There's nothing that says the compensation can be $0.
