The dilution to fund the eBay deal already happened. At least in the sense of losing value in shares.

I posted this on a different sub but it's going to get buried there.

The deal is 50/50

Gamestop only needs to have 27.5b in cash to fund this deal. Not accounting for current ownership through derivatives. Which is probably quite a bit more than 5% considering they started building their position when the stock was around $83.

Current eBay owners will be paid 50% cash and 50% keep the stock you already own.

When the deal goes through whatever dilution has to happen doesn't really matter as long as the share division is fair.

eBay shareholders and gme holders will now have ownership in a company worth 55b+whatever gme is manipulated to on that current day.

New shares will be issued to accommodate eBay shares but the value will be the same for a gme share as a eBay share because well there will no longer be a distinction.

Merger may not mean moass but a $70b stock is probably much harder to manipulate than a $10b stock.

All of this for the dilution that already occurred ($10b cash on hand IF that's actually used) and $20b in high quality long term debt.

I trust this deal goes through regardless of further dilution. Because it doesn't need ANY further funding than the cash on hand and the $20b loan.

Side note: I don't think this goes to a proxy vote. I don't know what they could have in mind but I'm guessing this will be much more aggressive than waiting for a vote.