yep - because of the notes there's always someone to dump into the news. this is luke-warm news - it's more but somewhat better dilution than their previous notes, most of which convert at 70% of the lowest closing price of the last 15 trading days. So 85% is an improvement, and being able to control when shares are sold is an improvement (i.e. they can turn off the tap and let a run happen now and then). If, and it's a big if, they actually use funds raised with shares to retire toxic debt, then this will be a good development, but there's no guarantee they'll follow through.
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