My question exactly. The 8-k is filed, so obviously it can be done...
I would have thought that this type of deal could only come after the r/s which would free up the shares (in this case warrants) to sell.
One things that makes this positive for me is the Institutional Investor must have wanted to get the deal done pre-r/s because they see a pop in the pps (can you say very good 10-k).