Nonsense. There is a revolving credit facility that is being negotiated. There is no reason at all for a reverse split, and there is no reason for any financing OTHER than the new debt.
And the stock price is not a "falling knife". It is valuable advice to not catch a falling knife. I did that once as a kid and slice my hand up badly. But MCP is a stock. It had a one day fall of 10% after a disappointing quarterly result. The price is likely to climb back up again and resume the uptrend. One day is not a down trend.