I've only had about 5 minutes to look at this. It appears the dilution including the warrants is around 20%. So for someone to sell at 1.63 pre-market, they must have thought the company was barely worth $2 before this financing. Plus the company now has cash to work with.
While I wish I had waited to make the last few purchases that I did, I don't think it's a bad financing arrangement. I think the sellers pre-market will end up regretting it.