I have trouble seeing them withdrawing the share offering at this point, pulling the most recent presentation link from the website to ensure any potential regulator concerns are eliminated, that to me is a pretty strong indication that its going through.  Even if somehow it is still withdrawn I would still see it as a positive though...I would  take it as an indication that the company has enough cash remaining to get to top-line results.  And in the (imo) unlikely event that the offering is pulled, I would expect the market to react bullishly like it did last June of 2018.

Assuming it goes through, the way I see things....the bigger the offering the better.  10 million, 20 million....40 million units, that would be HUGE from my persepective.  If they're able to attract significant interest when shares have been trading at prices well below the $4 unit price...WoW!!! 

It can only mean one thing as far as I'm concerned, and that is that buyers of the offering firmly believe shares will get over the $4.60 warrant price.  I don't know if anyone has a different take, but I can't see any point in paying $4 per unit if one is thinking that the PPS will stay below the $4.60 warrant price.