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That would not address the dilution issue. Imo we ultimately fill the gap in the 200s - either it takes a long time or, if the dilution issue is remedied (via buyback of a majority of govt shares or Yerushalmi lawsuit), then sooner.
If the shares are not sold to the market, private placement, doesn't that resolve dilution?
No. The shares need to be bought back by the company and retired in order to reduce dilution. If the company were to do a buyback a low price would be beneficial.
The shares would still be outstanding regardless of how they change hands.