RE:rights offeringread the press release. the fd share count post all the rights, PP, and warrants are clearly stated.
"Upon completion of the Private Placement and assuming the exercise of all Rights issued in connection with the Rights Offering, Elkwater will have approximately 269.1 million Common Shares, and assuming the exercise of all Warrants issued in connection with the Private Placement, there will be approximately 329.1 million Common Shares outstanding on a fully diluted basis."
If you believe in efficient market theory, then the current share price already reflects the dilution from PP, warrants, etc. In theory, post the ex-rights offering date, the share price should go down by the amount of dilution caused by the rights offering. This is not material though.
The stock will not go to 44-55 cents. No. Markets anticipate these things and they tend to be factored into the share price.