Whenever I see Pattersons mentioned in connection with a stock I own I know I'm about to be bled white.
They do what they do very, very well and for the long suffering holder it is rarely a pleasant experience short term. Longer term, for me, the results have been mixed.
If the product takes off in the US market this large dilution will be simply be seen as a test of the fortitude of holders but if the product flops it will be seen as squeezing the last drop of blood from holders who had already given heaps.