However, day-to-day dilution from routine equity-based employee compensation and other possible dilution, such as stock-based acquisitions, will likely undermine this dual-class structure and our aspirations for Google over the very long term.

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Silver Lake Waterman will focus on the primary debt market, lending to well-established pre-IPO companies that want to raise additional capital without the dilution from additional equity rounds.

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That being said, while a dilution of shareholder equity may seem less than ideal to current investors, it will ensure the survival of the company (at least for the time being).

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Reynolds never sold any of its stake in Targacept, but dilution has lowered its equity interest to 4%.

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"The bottom line is substantially more dilution to the existing equity holders, " said Moshe Orenbuch, an analyst at Credit Suisse.

FORBES: Magazine Article

Reducing net debt will boost equity value in the absence of any dilution from the capital raises.

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These bonds will convert into equity when financial distress becomes substantial or forces banks to issue equity to pay back the bonds to prevent the dilution.

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Most of these actions were necessitated by sudden and substantial declines in free cash flow resulting from recession-induced contractions in property cash flows and per-share cash flow dilution caused by the issuances of additional equity.

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The dilution in USL's shares has made it difficult to sell equity to British liquor maker Diageo PLC.

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Diminishing equity value across the broadcasting and publishing industries means they will not return without a good deal more dilution and debt restructuring.

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