Symbotic announced the commencement of an underwritten public offering of 10 million shares of its Class A common stock. The offering consists of 6.5 million shares being sold by the company and 3.5 million shares by a SoftBank Group affiliate. Symbotic plans to use the proceeds from its portion for general corporate purposes, while the SoftBank affiliate will receive all proceeds from its sale of shares. The announcement comes after the company's stock fell sharply earlier in the week. On December 2, Goldman Sachs downgraded Symbotic to "sell" from "neutral," citing concerns about the company's customer concentration and future cash generation. This downgrade contributed to a significant drop in the stock price, with shares plummeting over 21% on Tuesday. The offering adds another layer of pressure on the stock, as the increased supply of shares could be dilutive to existing shareholders.