KULR Announces Pricing Of $900,000 Public Offering Of 4.5M Shares Of Common Stock At A Price Of $0.20/Share
Portfolio Pulse from Benzinga Newsdesk
KULR Technology Group, Inc. has priced an underwritten public offering of 4.5 million shares at $0.20 per share, expecting to raise $900,000 before expenses. The proceeds will be used to repay debt to Yorkville and for general corporate purposes. The offering is expected to close on December 22, 2023, with R.F. Lafferty & Co., Inc. as the sole book-runner.
December 20, 2023 | 1:05 pm
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KULR Technology Group is conducting a public offering of 4.5 million shares at a price of $0.20 per share to raise $900,000 for debt repayment and corporate purposes.
The public offering is likely to have a dilutive effect on existing shares, which can lead to a short-term negative impact on the stock price. The low offering price of $0.20 per share suggests a significant discount to the current market price, which typically results in downward pressure on the stock. However, the use of proceeds to repay debt could be seen as a positive in the longer term.
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