Agreed. This was a great opportunity. And the share price shouldn't fall too much because of this. Following the formula for theoretical stock dilution price of (original # shares * current share price) + (# shares issued * issue price) / (original # shares + # shares issued) we come out with the following, assuming a $2.00 current stock valuation: (25,630,000 * 2.00) + (5,123,423 * 1.6) / (25,630,000 + 5,123,423). This gives us a theoretical diluted price of $1.93.
Granted there's a lot more too it than this, but the dilution will not be that bad. It could still go to $1.60 for a short time, but will quickly even out.