Wainwright did the same kind of deal for GEVO in June of 2020. 30mm shares, single warrant coverage. The price dropped the day of the announcement but recovered by August. The price climbed in the fall and hit a peak of about 15 dollars in January 2021 after Wainwright and Citi raised them about a half a billion more.
The price went back down, but for BIOF it hasn't changed, if the tech works we make a lot of money.
BTW, at 15 GEVO's market cap was about three billion.