I don't see anything wrong with it. The "dumping" is also called 'rasing capital', which is the whole point of going public.
Like Lurker said, this shouldn't be much of a problem unless they start dumping bucket fulls of a shares at a time...
As always, follow the chart... if the key support levels begin to fail, that is your clue that the dilution is ramping up more than the buyers can sustain...
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