I have to point out that one thing wrong with this. Filing of the S-1 is not accretion by any means. The definition of accretion is very strict. But if you are trying to use the word with the assumption of a pps gain, it is STILL not correct due to how the shares were issued. It is the very definition of dilution. OS increase with those shares bought and the company given money IS the very definition of dilution. Doesn't mean the pps will tank, but it does mean that the holders of said shares can sell them after a year thus decreasing the pps. Just depends on what happens after a year with the pps rise or fall.