Wilbert Engineering Is Considering a Large Seasoned Equity Offering

Wilbert Engineering is considering a large seasoned equity offering. If Bill, a current shareholder, does not participate in the offering he is most apt to:

A) Suffer the effects of dilution.
B) Lose his voting rights.
C) Increase his proportionate ownership position.
D) Benefit from an increase in value resulting from the offering.
E) See the number of shares he owns increase while the value per share decreases.