🔴 FLNC is trading 4.8% down today after secondary offering priced at $21.00

FLNC is trading at $21.03, down 4.84% today following the announcement of a 20 million share secondary offering priced at $21.00 per share.

• The offering by existing stockholders includes a 30-day option for underwriters to purchase 3 million additional shares, creating near-term selling pressure and dilution concerns.
• The stock remains volatile after a massive rally earlier this month, which saw shares surge 39.9% on May 7 and 27.4% on May 8.
• Today's decline reflects typical post-offering weakness as the market digests the large equity issuance.