Aug. 21 at 10:05 PM
$SKYQ this is just as bad as batl.
To avoid potential default, management raised capital through an aggressive "at-the-market" equity offering. This raised roughly
$12.5 million in net cash, boosting their cash balances to
$7.23 million to give them a brief operational runway while the refinery restarts. However, this safety net came at the cost of massive shareholder dilution—increasing the company's outstanding share count by 171.6%.
