Public offering This is a good strategic move in my opinion. Their cash flow is tight and they have also decreased their cash on hand significantly due to te turn around.
I think they will raise the money quickly. They are a fiscally responsible company that is growing and is acheiving good results. The proceeds they raise will be put to good use.
This will however increase the amount of shares, which can lead to dilution.
Given their performance in the past few Q's, I dont think this will have a negative impact overall.
Just my thoughts.