The direct offering and issuance of warrants by FWBI could lead to short-term negative sentiment due to potential dilution of existing shares. However, the capital raised is crucial for the company's ongoing research and development activities in gastrointestinal diseases. The involvement of institutional investors and the role of Roth Capital Partners as the placement agent could add some level of credibility to the offering, but the immediate impact is likely to be negative due to the dilutive nature of the transaction.