- Quhuo (NASDAQ:QH) stock gained 26% postmarket on Friday after the firm filed to withdraw its $200M mixed shelf offering.
- QH clarified that the registration for the shelf offering was not declared effective and none of its securities have been issued or sold pursuant to the offering.
- The gig economy platform operator said the withdrawal "is consistent with the public interest and protection of investors".
- Shares of QH have dropped ~75% YTD.
- Last month, QH regained compliance with Nasdaq's minimum bid price rule.