Not talking about a reverse split. It will decline in price from the flooding supply. A reverse split doesn't change the value of ownership. Just the number of shares.
Dilution dilutes...give you less...less shares...less value...less everything. A significant event in the company will increase the value of the price...but. ot as much as it would have if it wasn't diluted.
If 100 shares become worth 100 dollars after a significantly successful event, they would only become worth 50 dollars if previously diluted to doubled shares count.