Secondary offerings often lead to a dilution of existing shares, which can result in downward pressure on the stock price. However, since the company is not receiving any proceeds, this may indicate that the impact could be less significant than if it were issuing new shares. The relevance is high as it directly involves the company's stock, but the importance is moderate because it doesn't affect the company's capital structure. The confidence level is high due to the typical market reaction to secondary offerings.