Re: "...whatever the final share structure, will be diluted along with everyone else - no sweet deal for insiders."
From that statement one may infer that dilution, as now more than implied, will be a bitter deal for all stockholders. I agree. There are likely no choices that will not cream existing shareholders which is precisely why buying now in the midst of swirling uncertainties and bloodletting reversals poses a significant risk. When a firm is starving for funds, watch out below. In any case, it doesn't negate my opinion that "the managers and directors will carve a niche for themselves in the new incarnation." Not that I would blame them!
ctgi
These are my opinions and sentiments. Buying stocks poses demonstrable risks; you could lose all or part of your principal investment. Use iBoxes for DD start.
Buying gold won't save your soul, but it might save your skin someday.