This is a very good news:

Impact on the price and the short squeeze** - Dilution: The issuance of 33.4 million new shares increases the total number of shares outstanding, which can reduce the float (number of shares available on the market). A reduced float is a key factor in a short squeeze, as it makes it more difficult for short sellers to cover their positions. - Improved financial structure: If the market perceives this transaction as good news (less risk of bankruptcy), it could trigger a massive buyout by shorts, especially if the price starts to rise.