TA gives us the MRIB SS data daily! That is the only thing that shows if any dilution is about to happen. MRIB runs when the ask is hit ad we fall when we get bidsitters. BTW we have dealt with VNDM from time to time in the past he usually does not have much to sell. We run when he is hit. There has been no dilution, all retail traders daily! We did see an increased in the OS we all knew was coming on the 5% dividend shares!
Your example does not necessarily signify dilution by the company. If a seller puts in a 600,000 share order at 'all or nothing' it is not shown on Level 2 or on the Ask. Works the same way on the big boards.