KULR Withdraws Proposed Public Offering Due to Market Volatility
August 17 2023 - 9:24AM
KULR Technology Group, Inc. (NYSE American: KULR)
(the "Company" or "KULR"), a global leader in sustainable energy
management, today announced the decision to withdraw a proposed
underwritten public offering. KULR has recently seen significant
fluctuations in its stock price, giving management pause in its
decision to move forward with the proposed offering.
KULR’s CEO Michael Mo commented, “KULR's
management felt strongly that it would not be in the best interest
of the shareholders to proceed with an offering at this time.”
The offering was being made pursuant to the
shelf registration statement on Form S-3 (File No. 333-257697),
including a base prospectus, filed with the U.S. Securities and
Exchange Commission on July 6, 2021 and declared effective on July
13, 2021. This press release shall not constitute an offer to sell
or a solicitation of an offer to buy these securities, nor shall
there be any offer or sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the 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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