KULR Announces Proposed Public Offering of Common Stock
August 16 2023 - 4:15PM
KULR Technology Group, Inc. (NYSE American: KULR)
(the "Company" or "KULR"), a global leader in sustainable energy
management, today announced that it intends to offer and sell
shares of its common stock in an underwritten public offering. All
of the shares of common stock in the underwritten public offering
are to be sold by the Company. The Company also expects to grant
the underwriters a 30-day option to purchase up to an additional
15% of the number of shares of common stock offered in the public
offering solely to cover over-allotments, if any. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
The Company intends to use the net proceeds from
the proposed offering to pay off certain amounts of the outstanding
balance owed under its existing financing facility and for working
capital and general corporate purposes.
The Benchmark Company and Freedom Capital
Markets are acting as the joint book-running managers for the
offering.
The securities will be offered and sold pursuant
to a shelf registration statement on Form S-3 (File No.
333-257697), including a base prospectus, filed with the U.S.
Securities and Exchange Commission (the “SEC”) on July 6, 2021 and
declared effective on July 13, 2021. The offering will be made only
by means of a written prospectus. A preliminary prospectus
supplement and accompanying prospectus describing the terms of the
offering has been or will be filed with the SEC on its website at
www.sec.gov. Copies of the preliminary prospectus supplement and
the accompanying prospectus relating to the offering may also be
obtained from the offices of The Benchmark Company, LLC, 150 East
58th Street, 17th floor, New York, NY 10155, by email at
prospectus@benchmarkcompany.com, or by calling +1 (212)-312-6700
and Freedom Capital Markets, 40 Wall Street, 58th Floor, New
York, NY 10005, via email
at EquitySyndicate@freedomcapmkts.com and via telephone
at (800) 786-1469. Before investing in this offering, interested
parties should read in their entirety the preliminary prospectus
supplement and the accompanying prospectus and the other documents
that the Company has filed with the SEC that are incorporated by
reference in such preliminary prospectus supplement and the
accompanying prospectus, which provide more information about the
Company and such offering.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About KULR Technology Group
Inc.KULR Technology Group Inc. (NYSE American: KULR) is a
leading energy management platform company offering proven
solutions that play a critical role in accelerating the
electrification of the circular economy. Leveraging a foundation in
developing, manufacturing, and licensing next-generation carbon
fiber thermal management technologies for batteries and electronic
systems, KULR has evolved its holistic suite of products and
services to enable its customers across disciplines to operate with
efficiency and sustainability in mind. For more information, please
visit www.kulrtechnology.com.
Safe Harbor Statement
This press release does not constitute an offer to sell or a
solicitation of offers to buy any securities of any entity. This
release contains certain forward-looking statements based on our
current expectations, forecasts and assumptions that involve risks
and uncertainties. Forward-looking statements in this release are
based on information available to us as of the date hereof. Our
actual results may differ materially from those stated or implied
in such forward-looking statements, due to risks and uncertainties
associated with our business, which include the risk factors
disclosed in our Annual Report Form 10-K filed with the Securities
and Exchange Commission on March 28, 2023, as may be amended or
supplemented by other reports we file with the Securities and
Exchange Commission from time to time. Forward-looking statements
include statements regarding our expectations, beliefs, intentions,
or strategies regarding the future and can be identified by
forward-looking words such as “anticipate,” “believe,” “could,”
“estimate,” “expect,” “intend,” “may,” “should,” and “would” or
similar words. Except as required by law, we assume no obligation
to update the information included in this press release, whether
as a result of new information, future events or
otherwise. Investor Relations:KULR
Technology Group, Inc.Phone: 858-866-8478 x 847Email:
ir@kulrtechnology.com
Media Relations:Further PREmail:
press@furtherpr.com
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