McS & Shail.....There undoubtedly will be dilution with the secondary. This company needs a capital infusion to continue to operate, so one of the goals for the RS and to ascend to a major market is to access capital easier.
My guess is that the secondary will be a combination of creating new stock and paying down debt and retiring some warrants. Dilution will only be lessened by retiring warrants. If no warrants are retired, the dilution might be as much as 30% if the calculation that I performed earlier is accurate. That also means that if 1/2 the funds is used to retire existing warrants, the dilution will only be 1/2 as great, but I doubt that this will occur since the company needs the money to operate.
I noticed that whoever the buyer using ARCA hasn't shown up today. From my perspective this is why the stock seems to have stalled.
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