Unnecessary dilution of shares not in interest of insiders A certain amount of cash is necessary to maintain solvency and a strong position in relation to potential purchasers. Any weakness will be exploited. Therefore, dilution is a necessary evil, but only when necessary.
However, now that a partnership agreement or (more likely) a buyout are imminent management will not want to dilute the shares more than necessary. For example, an additional 10% of shares (about 6,000,000 more) would mean that the value of existing shares and options on buyout would be worth about 10% less. So if the buyout price was $4 billion and Matt's share was around $80,000,000 then a 10% dillution would have cost Matt around $8,000,000. So I don't think any of the insiders will want more dillution than necessary.