Dilution? Doubt it.Dilution is unlikely IMO. IME has other options like an equity LOC to get over the finish line without serious dilution. Many undervalued companies do this to cover things till approval. Market timing doesn't always cooperate with company timing so various funds offer this.
Being so close to FDA approval and after 2 years of consulting the leaders in the urology world, they should sell dozens of iBlue systems out of the gate. The market is waiting.
Then there's other FDA applications which will come on the heels of the FDA bladder cancer approval. I'll bet 3 other approvals within 12-18 months of the initial approval. Boston Scientific or whomever the buyer is certainly knows this. Pam probably already has the paperwork done.
Risk is mitigated at this point. If M&A types wait too long they'll pay a whole lot more for IME in a few months.
There are also 19 M warrants at $0.38 which will put $7.2 M into treasury. It is getting late in the game for the market to be ignoring this.
Don't dilly-dally. When she goes... she goes.