KULR Receives Non-Compliance Notice from NYSE American
February 16 2024 - 5:15PM
KULR Technology Group, Inc. (NYSE American: KULR)
(the "Company" or "KULR"), a global leader in sustainable energy
management, today announced that the Company received a letter (the
“Letter”) from the staff of NYSE American LLC (the “Exchange”)
stating that the Company’s securities’ performance of trading price
is below compliance criteria pursuant to Section 1003(f)(v) of the
NYSE American Company Guide, which the Exchange determined to be a
30-trading day average of less than $0.20 per share. The Company’s
continued listing is predicated on it demonstrating sustained price
improvement within a reasonable period of time, which the Exchange
has determined to be no later than August 12, 2024, or otherwise
effecting a reverse stock split of its common stock.
KULR intends to cure the stock price deficiency and to return to
compliance with the Exchange continued listing standards.
Receipt of the Letter from the Exchange has no immediate effect
on the listing or trading of KULR’s common stock on the Exchange,
and does not affect KULR’s business, operations or reporting
requirements with the U.S. Securities and Exchange Commission.
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 Form 10-K filed with the Securities and Exchange
Commission on March 28, 2023, as may be amended or supplemented by
other reports we filed 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. All
forecasts are provided by management in this release are based on
information available at this time and management expects that
internal projections and expectations may change over time. In
addition, the forecasts are entirely on management’s best estimate
of our future financial performance given our current contracts,
current backlog of opportunities and conversations with new and
existing customers about our products and services. 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
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