OK, billions was an exaggeration, but almost certainly over 100 million.
4 (or 5--I'm not figuring it out without some kind of faith that I'll get them one day) dividends, with a conservative estimate of 3 million dilution at each step (the reality is probably twice that):
1st: 3 X 2 = 6 + 3 (for dilution) = 9 million
2nd 9 X 2 = 18 + 3 (for dilution) = 21 million
3rd 21 X 2 = 42 + 3 (for dilution) = 45 million
4th 45 X 2 = 90 + 3 (for dilution) = 93 million
5th 93 X 2 = 186 million
IMO, that is the minimum number of shares that would have to be issued. And the squeeze is long gone because of dilution.