So if they did (which would have needed shareholder ratification), they would have effectively diluted the company by 35% or thereabouts. Adding 350,000,000 shares to 690,000,000 shares (if exercised), making a total of approx 1,040,000,000 shares.
Do you think people would be screaming then?
Do you think because they needed shareholder approval they re-jigged it so that it came just around the magical 15% figure. ie no need to get shareholder approval.
Where's Pierpont when you need him?
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