Honestly, no. But it makes sense- without an infusion of capital it'd be very hard to compete with the bigger companies for spectrum. I'm planning to hold the stock long-term, so I'd rather have some dilution now if it means the company can expand later. The alternative is a continued linear increase in value until they hit a brick wall in terms of progress.
It is very sad development, though the dilution is only about 9% and could have practically no effect on share price, especially if they use the money for meaningful expansion. Having said that I am still very #$%$ off.
At least you didn't pick up some call options like me right before they made this announcement :-).
I really do think the company is pretty damn good though. If AMZN can skyrocket making zero profits and just showing a ton of growth year after year I think T-mobile could be treated in a similar manner over the next few years at least with what they are doing with their business.