technically yes.
What has been missing is any PR that explains the company reasoning. When originally filed there were many posts suggesting uses for any funds that exploit the shelf filing but we had nothing from the company.
we will see the same filing at least 2 more times as it goes through the regulatory clearing houses.
There is NO COMMITMENT to sell any shares, it is purely paperwork that has to be done so that if the company urgently needs funds they have a way of getting them without a loan shark being involved. Obvious potential uses include:
Raising cash on hand balances to be compliant with the PPA agreement with Walmart for their leases.
Investing in a new factory capability to handle production requirements from customers
Investing in R&D developments for ProGen engines components for the Chinese and Work horse or Nikola
Investing in People and offices in China
Investing in inventory for huge roll outs required by Amazon, Target Home Depot, Nike, FEDEx as well as Walmart in Q1.
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