Whatever holes were drilled for the studs do not belong. I'd media blast the rear hem first and also see if any holes are blown though where those tabs are spot welded to the raised spots. Common issue. And look for swelling inside at the rear hem which is indicative of advancing corrosion.
Thanks for the help. My biggest question now is about this square shaped opening with the small hole above it. Is it part of the last owners install of the rear spoiler or are they factory holes? What are the for? Trunk light? Thanks