The release of 25 million shares is dilution and could cause some of the diamond hands to leave if the PPS went down. The HF could hold on for a few more months knowing the dilution is coming. I'm not saying it would definitely work out like that but it is a possibility. Also, last time AA diluted at a bad time for shareholders. The timing effectively tempered the run up. Somehow I don't think that was an accident. We have to look at or at least consider history here before we hand these guys the keys to do what they want.
25 million is nothing in terms of dilution but is massive in terms of raising capital for the company. I agree that hedge funds don’t want to see it pass because it makes the company stronger and their shorts weaker.