A significant portion of the money Ontario is putting up for this deal will be used to pay noteholders directly, without issuing any shares to them, so there would be no need for dilution.
The shares are reserved for now, because the deal isn’t done yet.
Should also mention that Ontario’s 51% ownership will be from the current OS, not 51% of the AS, so even then, they won’t have to dilute to make the deal happen.
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