On December 31, Royal Caribbean Group (world's second-largest cruise shipowner) filed a press release saying it had exhausted its entire USD 1 billion "at-the-market" offering initiated on December 3, 2020.
An "at-the-market" (ATM) means a company can raise money through gradual stock sales in the public market, as opposed to raising equity in big blocks from large investors all at once (usually requiring a discount).
RCG sold just over 13 M shares, equating to an average sale price of USD 76,65 per share, diluting the company by ~5.8%.
There is still a lot of uncertainty as to whether sailings may actually be able to set sail. In case logistical problems continue, it could mean a longer time to "normal" travel operations than those companies expect. In the meantime, all cruise shipping companies are burning cash every month.