GOED - 1847 Goedeker stock seesawed on no specific news; prices $205M equity offering

1847 Goedeker (GOED) has priced its public offering of ~91.11M units, each unit consisting of one share of common stock and one warrant to purchase one common share.Each unit is being sold at $2.25, for expected gross proceeds of ~$205M.Underwriter's over-allotment is an additional 2M shares/warrants.The five-year warrants have an exercise price of $2.25/share. Net proceeds will be used partially fund proposed acquisition of Appliances Connection, for working capital and general corporate purposes.Closing date is June 2.Yesterday, GOED stock opened 289% higher at $16.82 from previous day's close of $4.32 and slumped ~70% during after-hours trading to $1.84. Throughout the regular session, the stock seesawed and rose 40.5% by the end of the day and closed at $6.07.With respect to this highly fluctuating price movement,  Goedeker issued a statement saying, "...in response to unusual market activity, and after speaking with its directors, major shareholders and other relevant persons, it is unaware of the reason behind

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1847 Goedeker stock seesawed on no specific news; prices $205M equity offering