Why KULR Technology Group Shares Are Nosediving
Portfolio Pulse from Henry Khederian
KULR Technology Group Inc's shares have dropped by 33.8% after the company announced and priced its public offering of common stock. The company has priced its offering of 7,142,857 shares at 35 cents per share, expecting to raise approximately $2.5 million. The proceeds will be used to pay off certain amounts of the outstanding balance owed under its existing financing facility, as well as for working capital and general corporate purposes.
September 13, 2023 | 2:09 pm
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NEGATIVE IMPACT
KULR Technology's stock price has dropped significantly following the announcement of its public offering of common stock. The company's decision to price its shares at 35 cents has led to a 33.8% decrease in its stock price.
The significant drop in KULR Technology's stock price can be directly attributed to the company's decision to price its public offering of common stock at 35 cents per share. This has likely led to a decrease in investor confidence, resulting in a 33.8% decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100