That is hilarious So it will result in up to 20% dilution - but...

That is hilarious

So it will result in up to 20% dilution - but it is not a capital raise. Well pheww and here I was thinking it is going to be a terrible capital raise.

Who cares about the up to 20% dilution - it is not a capital raise! haha.

I don't care what you call it - if it results in 20% dilution to all existing stock holders that is a negative. Yes cap raises do have purpose but they are also negatively dilutive - you cannot escape that fact.