Stock-savvy people - please reply!

A stock I own put out a proposal and wants a vote for the approval to double the shares of their Class A common stock.
I understand the term for this is share dilution. Does this necessarily mean that the company is in trouble? It’s not a reverse split but from what I’m reading that it’s still not good for my investment itself but I don’t really see how. If any of you have an opinion/experience with this - your input would be greatly appreciated.

So they want to issue more stock to raise capital…but for what purpose? Is it accreditive to their EPS? Is it to pay executives ? Has their stock gone up a ton during the rally ?

Thanks a lot for your reply.
Actually the stock has been pummeled by unscrupulous short selling and now trades under $1.00. Even with the current market run-up it’s been struggling.
I think it’s to raise capital and perhaps avoid a reverse split but I’m not totally sure. The company itself is cutting edge with a lot of contracts including approval for Federal contracts as well so it does seem to be promising.