ClearSign Technologies (NASDAQ:CLIR) shares are trading sharply lower in after-hours trading on Thursday.
CLIR shares fell 20.18% to $3.64 in after-hours trading after the company announced a proposed underwritten public offering of common stock.
ClearSign Technologies is a Tulsa, Oklahoma-based company that develops combustion and sensing technologies designed to reduce emissions, improve energy efficiency and support the use of cleaner fuels, including hydrogen.
Public Offering Announcement
The company announced that it intends to sell shares of its common stock in an underwritten public offering. All shares offered will be sold by ClearSign. The company also plans to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares offered.
