KULR - KULR Technology dumps 17% on withdrawal of public offering

2023-08-17 09:52:48 ET

KULR Technology's ( NYSE: KULR ) stock price dropped 17% on Thursday as the company withdrew its proposal of underwritten public offering .

This led to a significant price movement in the stock, which currently trades at $0.86.

A day before, the company came out with the news of launching an equity offering due to which the stock price climbed 26% .

KULR’s CEO Michael Mo commented, "KULR's management felt strongly that it would not be in the best interest of the shareholders to proceed with an offering at this time."

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