Maybe raising funds because they need to finance a growing book of centralized project business. Still pretty annoying with the timing. Maybe whoever is doing the offering was supporting the stock price today though, and will continue to do so through the offering.
They're paying down debt with this money. If they were financing a big project, don't you think they'd have said that to keep the price up and therefore grab more of our money? Listen to the conference call last go around, Goldman Sucks asked about the June 180M coming due and Teresa totally dodged the question. To me, the secondary writing was on the wall at that point.