The share dilution on this is absolutely massive, over 32% of pre-existing market cap (shares slightly less) in one swoop.
this is one share I wish I had never gone anywhere near in 2011 and that I hadn’t believed all the BS that followed on each subsequent cap raise I participated in.
Talk about treating your long term shareholders with complete contempt.
Ann: Empire Completes $46.8 Million Capital Raise, page-4
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