Since the warrants won't trade and only are issuable to those that own shares post and offering, I would say they are a contingent bonus for the patient shareholder--there is no guarantee that they will add any value since they will become a defacto 2-1 split if all are exercised after a Warrant Exercise Event.

No further money must be paid, you only have to surrender the Warrant Certificate to obtain Warrant Shares prior to the Warrant Termination Date, 3 years after the closing and assuming a Warrant Exercise Event occurs.

There is no exercise price (page 13, first full paragraph of the Prospectus), "and without the payment of any additional consideration by the holders of Warrants,".