Well, I can't really advice you on what to do... buy or wait... either choice is valid I guess..
But as far as why they chose to do this, ... they needed to dilute in either case, but the other way they'd have probably had to raise the A/S ... or even worse, a R/S... I think the alternative they chose was better..
But yeah, at the time they reduced the OS, they had stated that basically they will need to dilute further, but that it was *almost* at an end... I will agree, if it goes on for much longer, in my view they'd have lied. They've already diluted like 110 mil more..