Debt holders can offer shares 90 days from the effective date (which would be 8/24 roughly) and it will be announced first. I'm not completely clear on all of it. See my earlier post. ("Shelf" may be the wrong term.)
Unfortunately if you want to "load up" on warrants, you'll probably need to meet the ask at $4. Can only see "best" on the quote since it's OTC, but it looks like 10k warrants at $4 and 50k at $5 on the ask, pretty consistently. Bid has moved up and down much more.
My partial fill was 1.02 on a 1.05 bid and only 64 warrants - obviously a 2000 old / 100 new share holder. The big boys stepped in front of me immediately with a 1.10 bid on 50k. I expect that's how the fills will go on a GTC limit at such a low price.
I've never even done standard options, much less warrants. ~$8 premium to exercise (strike + warrant - current share price) "seems" high but four years is a long time. The flexibility the warrants offer is certainly appealing.