Dilution of at least 19%
I reread the press release, while few details are given, they do mention the authorized shares will need to be increased above the current allowed 250MM. There are (were?) 210MM shares outstanding, so the dilution is at least 19%, and is going to be more depending on how many shares are issued.
The one good thing, is that as long as it is a reasonable amount of money raised, is this could be the last dilution needed to get to the end of a trial. I also think that having enough money on hand would make it more likely that ATVI would settle, since trying to wait for the company to run out of money would not work.
Louis J. Desy Jr.
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