Just curious what is the issue with the oppies? Sorry i dont...

Just curious what is the issue with the oppies? Sorry i dont know much about this but would like to understand. Is the concern that if they expire out of the money then holders lose their money, or is the concern that if they are not converted the company will not get the money. I ask because i would have thought if the concern is the company wont get the money then surely it is really not that different to doing a cr for the same amount?? Surely either way they have to issue more shares?
Excuse my ignorance please but just curious what the oppie issue is about. Can anyone explain in simple terms thanks so i can understand if the oppies are well in the money isnt that just same as issuing shares at a discount in a cr?.