The gobbly#$%$ issued by the company today isn't worth the effort it took to produce it. We are to believe the company absorbed more than 4 million shares from major sellers without benefitting financially from it. How about some simple English to explain what happened to cause the stock to plummet suddenly.
The company isn't absorbing anything. The 4 million shares are held by private equity firms right now, meaning the shares already exist and are owned by someone. After the secondary offering the shares will still exist, and still be owned by someone.
4 million shares is roughly 10% of all shares, which is significant. These shares were previously NOT being traded, but they will be now. This has all sorts of implications, but it is not a negative for the company itself. If you liked the stock at 45, you should like it at 42, or 40, or wherever. The drop is frustrating, but it is not necessarily permanent.