NSAV Holding Inc (NSAV)

[shotsky]

The dividend shares have been given out years ago. I have 500K of them myself.
The AS is 6B, the OS is 5.8B, so there is about 90M shares left in the AS. The offering is to sell those shares remaining in the AS.
It is essentially a private placement, but no one would buy them until the share price is above the minimum. No one is going to pay a premium to fill out the AS with the remaining common shares.
Selling of those shares IS dilution, but it's so few that we won't actually be affected. JT is just trying to raise some more cash, and that's how it is done.