its a 34 million warrant issue so round 6% of issued capital and with a conversion price of $2.07 its not at all dilutive at the moment because the market price is below this.
sure in 2013 when the stock is $25 and it comes time to convert then it will be slightly dilutive (at that point it may be nearer 2% of issued capital) but right now no.
nexus completes millions subordinated debt, page-3
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