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HOUSTON - KULR Technology Group, Inc. (NYSE American: KULR) announced Friday it will execute a 1-for-8 reverse stock split of its outstanding common stock, effective for trading on June 23, 2025. The announcement comes as the stock trades at $1.15, having experienced significant volatility with a 52-week range of $0.20 to $5.49. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value metrics.
The company’s common stock will continue trading on the NYSE-American Market under the symbol KULR but with a new CUSIP number. The reverse split will reduce KULR’s outstanding shares from approximately 300 million to less than 40 million. InvestingPro data shows the company maintains a strong financial position with a current ratio of 9.19, indicating robust liquidity with assets well exceeding short-term obligations.
According to the company, the decision aims to optimize market dynamics and broaden investor appeal. CEO Michael Mo stated the move is intended to "better position itself for broader institutional participation and long-term shareholder value," particularly as the company approaches the Russell 3000 Index reconstitution later this month. Despite posting a revenue growth of 16.47% in the last twelve months, InvestingPro analysts note that profitability remains a challenge, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
The reverse split will not alter the company’s authorized number of shares or the $0.0001 par value per share. All stockholders will be affected uniformly, maintaining their percentage interest in the company’s equity except where fractional shares result. In such cases, KULR will issue additional fractions to create full shares.
The split will also apply to common stock issuable upon exercise of outstanding warrants and stock options, with proportionate adjustments to exercise prices.
Stockholders holding shares in book-entry form or brokerage accounts need not take action regarding the split. Vstock Transfer is serving as the exchange agent and transfer agent for the process.
KULR Technology Group describes itself as a Bitcoin First Company that provides energy storage solutions for space, aerospace, and defense sectors. The information is based on a company press release statement. With a market capitalization of $354.49 million and analyst price targets ranging from $1.50 to $6.00, investors seeking deeper insights can access additional ProTips and comprehensive financial analysis through InvestingPro.
In other recent news, KULR Technology Group, Inc. has expanded its Bitcoin holdings significantly. The company announced an additional $13 million investment in Bitcoin, bringing its total Bitcoin Treasury to $91 million. This purchase increased KULR’s holdings to 920 BTC, with an average acquisition cost of $98,760 per Bitcoin. The company has reported a Bitcoin Yield of 260% for the year, funded through cash reserves and its At-The-Market equity program. KULR’s strategic move to join the "Bitcoin for Corporations" initiative aligns with its broader strategy to bolster Bitcoin as a long-term reserve asset. Additionally, KULR is set to be included in the Russell 3000® Index, which could enhance its visibility among institutional investors. In corporate governance developments, the company expanded its board of directors and appointed Jay K. Yamamoto as General Counsel. These changes reflect KULR’s ongoing efforts to strengthen its corporate structure and financial strategies.
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