KULR Technology Group Increases Aggregate Offering Amount to $100 Million

On January 24, 2025, KULR Technology Group, Inc. announced that it has raised the maximum aggregate offering amount for the shares of its common stock. The company adjusted the amount from $50,000,000 to $100,000,000 under the At The Market Offering Agreement with Craig-Hallum Capital Group LLC. This increase was made in conjunction with the filing of a prospectus supplement, known as the “Current Prospectus Supplement,” for an initial sum of $50,000,000.

Before this latest development, KULR Technology Group had already sold shares of its common stock worth around $96,000,000 as part of the Sales Agreement. To ensure the legality and compliance with regulations, the company has provided a legal opinion attached as Exhibit 5.1, affirming the issuance of $50,000,000 worth of common stock under the Sales Agreement.

In addition to the increase in offering amount, the company has filed the necessary documents with the Securities and Exchange Commission regarding this transaction. This move falls under Item 8.01 of the SEC guidelines, denoting “Other Events.”

This press release also included a mention of the financial implications in Item 9.01, indicating that the company has provided necessary financial statements and exhibits. Notably, the Opinion of Sichenzia Ross Ference Carmel LLP (Exhibit 5.1) and the consent of the same party (Exhibit 23.1) have been submitted, along with the Cover Page Interactive Data File under Exhibit 104.

The filing was signed by Michael Mo, the Chief Executive Officer of KULR Technology Group, Inc. as of January 24, 2025. This increase in the offering amount demonstrates the company’s confidence in its growth and strategic development plans.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read KULR Technology Group’s 8K filing here.

About KULR Technology Group

KULR Technology Group, Inc, through its subsidiary, KULR Technology Corporation, develops and commercializes thermal management technologies for electronics, batteries, and other components applications in the United States. It provides lithium-ion battery thermal runaway shields; automated battery cell screening and test systems; cellchecks; safecases; fiber thermal interface materials; phase change material heat sinks; internal short circuit devices; and CRUX cathodes.