Form 8-K - Current report
August 22 2023 - 5:07PM
Edgar (US Regulatory)
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2023-08-22
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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 22, 2023
KULR
TECHNOLOGY GROUP, INC. |
(Exact name of the registrant as specified in its
charter) |
Delaware |
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001-40454 |
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81-1004273 |
(State or other jurisdiction of
incorporation) |
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(Commission
File Number) |
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(IRS Employer Identification
No.) |
4863
Shawline Street, San Diego, California
92111
(Address of principle executive offices) (Zip
code)
Registrant’s telephone number, including
area code: (408) 663-5247
Not Applicable
(Former name or address if changed since last
report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14A-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14D-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class: |
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Trading Symbol(s) |
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Name of each exchange on which
registered: |
Common Stock |
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KULR |
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NYSE American LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ¨
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed in
the Current Reports on Form 8-K filed on May 16, 2022 and June 3, 2022, KULR Technology Group, Inc. (the “Company”) entered
into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, Ltd. (“Yorkville” or “YA”). On
September 23, 2022, the Company entered into the Supplemental Agreement to the SEPA (the
“Supplemental Agreement”) with Yorkville.
As previously disclosed, on
August 16, 2023, the Company entered into a letter agreement (the “Letter Agreement”) with YA and Yorkville Advisors Global,
L.P (collectively “Yorkville Advisors”), to supplement and modify the Supplemental Agreement.
On August 22, 2023, the Company
entered into amendment to the Letter Agreement (the “Amendment Letter”) with Yorkville Advisors extending the deadline to
make an initial payment from August 25, 2023 to September 1, 2023.
The
foregoing is a summary of certain terms of the Letter Agreement and the Amendment Letter. For a full description of all terms, please
refer to (i) the Letter Agreement incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed
with the Securities and Exchange Commission on August 16, 2023; and (ii) the Amendment Letter filed herewith as Exhibit 10.2 and incorporated
herein by reference.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits
Exhibit
Number |
|
Description of Document |
10.1 |
|
Letter Agreement, dated as of August 16, 2023 by and between KULR Technology Group, Inc., YA II PN, LTD, as well as Yorkville Advisors Global, L.P. (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 16, 2023) |
10.2 |
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Amendment Letter, dated as of August 22, 2023, by and between KULR Technology Group, Inc., YA II PN, LTD, as well as Yorkville Advisors Global, L.P. |
104 |
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Cover page of this Current Report on Form 8-K formatted in Inline XBRL |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned hereunto
duly authorized.
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KULR TECHNOLOGY GROUP, INC. |
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Date: August 22, 2023 |
By: |
/s/ Michael Mo |
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Michael Mo |
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President & Chief Executive Officer |
Exhibit 10.2
August 22, 2023
KULR Technology Group, Inc.
4863 Shawline Street
San Diego, CA 92111
Email: Michael.Mo@kulrtechnology.com
Dear Sirs:
I am writing on behalf of
YA II PN, Ltd (the “Investor”), which is managed by Yorkville Advisors Global, L.P. Reference is made to the August 16,
2023 Letter Agreement (the “Letter Agreement”) entered into between KULR Technology Group, Inc, a Delaware corporation
(the “Company”) and the Investor, which Letter Agreement amended and supplemented that certain Supplemental Agreement
dated September 23, 2022. The Investor and the Company hereby agree to amend and replace Section 2(b) of the Letter Agreement
with the following language:
(b) On or before the earlier
of September 1, 2023 or the date of the closing of any financing conducted by the Company, the Company shall pay an amount equal
to the sum of (i) $3,000,000 in principal amount, (ii) the Payment Premium (i.e. 5%) in respect of such principal amount, and
(iii) all outstanding accrued and unpaid interest in respect of such payment date (collectively, the “August Payment”);
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YA II PN, LTD. |
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By: |
Yorkville Advisors Global LP |
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Its: |
Investment Manager |
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By: |
Yorkville Advisors Global II, LLC |
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Its: |
General Partner |
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By: |
/s/ David Gonzalez |
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Name: |
David Gonzalez |
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Title: |
General Counsel |
Agreed and accepted by: |
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KULR Technology Group, Inc. |
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By: |
/s/ Michael Mo |
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Name: |
Michael Mo |
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Title: |
Chief Executive Officer |
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cc: Sichenzia Ross Ference LLP |
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via Email: jyamamoto@srf.law |
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