Since ANLT just did an acquisition, I don't see how they will be ready for another until around the end of the year, based on their previous track record. By announcing the stock issue in the summer, they take the hit now. Once Cartotech earnings get factored in (with the next ER in October), the stock will probably start to move up, which would be a good time to sell the new shares. If they can complete the sale in October/ November, they can then announce their next acquisition in December or January.
The buzz surrounding the new acquisition might counteract the dilution and set the stage for a rally later in 1999, during which we will finally see 60+.