It means many more shares will enter the float. The company will receive money for each share issued and the amount received per share will vary depending on the terms of the vehicke being used to convert.

Its up to those who converted to decide when and how much to sell. I expect some or most, maybe all, will sell enough to recoup their cost basis at a minimum.

One thing is for sure, they are doing this to be ready sell if and when they feel like it.

Glass half full: if this happened during times of no news to look forward to, the SP would crater. Hopefully, the WORLDWIDE demand for leronlimab will easily drive investor interest to soak up all the shares and still drive SP higher.