Looks like they want to sell off 55M more shares. I don't know if this announcement justifies this big of a drop in the aftermarket or not. Feels a little heavy handed to me.
I am having a hard time understanding the need for a public offering at this point though. Why would they need to raise capital and dilute further if they were just granted a $2.26B loan from the US government in March? Is there more going on here?
Personally, I was kind of excited for it to drop so I can further average down. But with this stock hitting $3.81/share a 2+ months ago (before any dilution was brought up) I wonder if the 20% it lost today will be all or if it will continue to shed. Really don't want to see it turn into another standard lithium.
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