Yes but it's more complicated than that as it depends on if the...

Yes but it's more complicated than that as it depends on if the stock is fair valued or not.

For example, lets say the company currently has 10 shares and shareholder A has 1 share. They own 10% of the company. If the company issues 2 more shares to new investors the total goes to 12 and shareholder A owns 8.3% of the company (1/12). Of course the total value of the company also goes up as someone has paid cash for those additional 2 shares.

It's a bit irrelevant for a company like LNU that's pre-revenue though as capital raises mean solvency. Everyone complains about capital raises being dilutive but the alternative is to declare bankruptcy where there is even less value. A genuine concern with LNU is are they using the capital effectively? To date they've certainly spent a lot of money getting to where they are and their overheads are large for a company that's pre-revenue but there is also a very large opportunity if they get it right (yet to be seen).