VTLE I get closer to 100% dilution somewhere between 80% and 90% with 8 million plus shares, 4+ million convertibles and a 3 million share offering. It’s less if you don’t count the convertibles as dilution I guess.
This deal looked like it was value destroying to me and I dumped my small position. This was pretty much an all equity acquisition, and at a price higher than the equity is trading for. You both added risk, and increased the multiple.
I’m sure if you read the fine print they also acquired wagz :) Crackerjack management over at VTLE.
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