RE:Now that you have the "free" ZENA.RT in your portfolio... The increase in shares was already accounted for at $0.29 even if they didn't receive the cash. The cash alone is like $0.05 a share.
And again, as you know, no dilution of your ownership if you exercise the rights. Yes, shares issued but technically not dilution.
I sure as heck would never be short right now.