A typical financing for companies like ELVA. Highway robbery and lone-sharking at its best. 1/2 share warrant for each common share.

https://www.stockwatch.com/News/Item/Z-C!EFL-3326777/C/EFL

Electrovaya Inc. has completed its previously announced private placement, with existing institutional investors, new institutional investors and insiders, of 17,543,402 units at a price of 84.61 cents per unit for aggregate gross proceeds of approximately $14.8-million. Each unit comprises one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of $1.06 until Nov. 9, 2025, subject to adjustment in accordance with the terms and conditions of the warrants. In addition, if the common shares are not listed on the Nasdaq Capital Market by April 30, 2023, the exercise price of the warrants will be adjusted to 94 cents per common share, subject to adjustment in accordance with the terms and conditions of the warrants. The securities issued in connection with the offering are subject to restrictions on resale pursuant to applicable securities laws. The proceeds of the offering will be used for working capital to service purchase orders, for general corporate purposes, for Jamestown start-up costs, and for debt repayment and restructuring.
Craig-Hallum acted as agent

There were 8,771,701 warrants issued
with the rev-con there are now 1,754,340

Nasdaq did not occur by April 30 so the strike price goes from 5.03 (1.06) to 4.70 (0.94)

Can someone explain (better than I) the drag on SP/shorting process that brokers generally engage in with these warrant claims to hurt SP, at least until they clear. I don't believe this is applicable to ELVA but I heard troubled Companies in desperate financial positions can get put into a death spiral sometimes as a result. Would appreciate any help or explanation.