$1.50 buys you a share and one half of one full warrant.
One full warrant entiles the placee the opportunity to buy one full share for $1.80 anyitme after the 4 month hold and before 12 months go by from the time the financing is closed.
So for your $1.50 you are getting one share with the 1/2 warrant. If the stock goes up past $1.80 then you can buy that more expensive share @ $1.80......example, the share price is $4.00 so you can buy a share @ $1.80........if you had taken 10,000 shares in the PP you would have 5,000 warrants enabling you to buy 5,000 shares.
From this financing AMW the company, gets 2 million X $1.50 = $3 million
If all the warrants are exercised AMW gets a further 1 million warrants exercised @ $1.80 = $1.8 million
Total for AMW = $4.8 million