If it was HL then I believe that would have required some kind of disclosure and perhaps even a vote or something....these 10.4 million shares represent about a 5% increase in the number of OS.  

If we go to a MC of $1 billion USD then 5% = $50,000,000.00  USD which is a nice return on a $20 million investment, double the valuation and double the value of the shares in this latest offering to $100 million.  

Too bad the recent placements at the end of last year and this most recent one...too bad they weren't priced at $5 or more per share, which I think might have been very well achievable if the company had done a better job of promoting itself to a broader base of investors.