It is an accelerated book build, only the minimum price is
known, a bidding process is taking place to determine the final offer price. It lets institutions take a position in the stock, but they have to compete and bid against each other to establish the final price. The dilution is not huge and it gives TXP cash to move forward faster with its various testing programs. Not as bad as portrayed and likely good in the longer term as it will attract more followers and speed up events.
We shall see the final price once the bidding is finished.