I think I got a handle on it. The shares being registered will increase the O/S, but do not appear to be a lump sum to be delivered to the note holders.
To me, it looks like the float will slowly increase over the course of the next year, as note holders are delivered shares on the interest and then later principal, until Nov. 2018 note maturity.
If I am wrong on that, I am positive someone will correct me.
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