This new inflow of cash might be used to pay off some debt or used for needed company expansion.
Usually the gain of cash inflow from the sale is strategic and is considered positive for the longer-term goals of the company and its shareholders.
Some owners of the stock however may not view the event as favorably over a more short term valuation horizon.
The issuing company is able to raise capital on an as-needed basis with the option to refrain from offering shares if unsatisfied with the available price on a particular day.
Because no new shares are created, the offering is not dilutive to existing shareholders, but the proceeds from the sale do not benefit the company in any way.