Agree that it's non-dilutive and AH is more tape-painting than investing, BUT...I can't be happy when an "inside holder" plans to increase the float 25% when that amount is more than current institutional holdings. Every upside move is gonna be muted trying to absorb those sales.
They're going to sell them directly to the shorts to bail them out - at least 1.75 million shares worth of them. This is why mlp shorts have no fear and never cover. They just wait for these companies to issue secondaries and repeat the process.
AH action is a bunch of amateurs who don't understand the offering. There will be NO dilution to common shares, and the offering is not even open to the public.
Really hope this stupidity doesn't roll over into tomorrow.