KULR Tech falls on stock offering plans

KULR Technology

17/08/2023 12:06

** Shares of energy management platform KULR Technology
Group  KULR.N  plunge 42.6% to $0.62 premarket 
    ** Co in after-market hours on Wednesday announced that it
intends to offer and sell shares of its common stock 
    ** To use proceeds to pay off some outstanding balance under
its existing financing facility and for working capital and
general corporate purposes 
    ** Co also reported Q2 net loss of $6.3 mln, or $0.05 per
share, compared with the net loss of $5.3 million, or $0.05 per
share, in a year earlier
     ** YTD, KULR shares are down ~10%

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))