A shelf is only the opportunity to issue shares. Many companies has registred a shelf so they always have the opportunity to raise cash. It can be done now or in one year or not at all. Probably they will do it when price is better unless they have a short term need for capital
They just sold a decent chunk a few months ago in the $6s. To issue more shares in the $4s is highly dilutive and how will that sit well with people who bought in just months ago in the $6s? If they do go forward with this, it seems very poorly timed. If they need cash, why dilute shareholders at such a low stock price rather than cut the dividend?