Since the conversion price is way above current SP, "non-dilutive" is technically correct (from an accounting perspective), but using it in the headline of course serves a certain purpose...

As long as the SP gets up significantly and the ratchet provision isn't triggered by a regular offering, these deals are okay, but they can only repeat those for so long (this one buys them another 3 months), so 293 and full enrollment needs to be reached ASAP, and it seems they are on it now...