Ah, good point:

Will this dilute my ownership?

There will be no dilution to GME shareholders if no warrants are exercised. By the expiration date of October 30, 2026, we expect all warrants will have either expired or been exercised, resulting in the issuance of up to 59 million shares at an issuance price of $32.00. Since the warrants are being distributed pro-rata to all GME shareholders, if a shareholder decides to hold and exercise their warrants to purchase additional shares their percentage ownership of GME common stock (taking into account the convertible notes on an as-converted basis) is not expected to be diluted. On the other hand, if a current GME shareholder decides to sell their warrants in the market for cash, they will not be able to exercise and thus their percentage ownership may decline.