KULR amends Yorkville SEPA; $7.15M principal repayment schedule set through Dec 2023

KULR Technology Group, Inc.

Outstanding principal of $7.15M plus $205,961 accrued interest as of Aug 16, 2023.
If KULR raises ≥$15M in a financing, entire balance plus 5% premium paid; both agreements terminate.
If less than $15M, scheduled payments: $3M by Aug 25, then $1.383M each by Oct 31, Nov 30, Dec 31, plus 5% premium.
Yorkville agrees not to submit advance notices before Oct 15, 2023, conditional on timely August payment.
Failure to meet repayment schedule constitutes Event of Default under the Supplemental Agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

KULR Technology Group, Inc. entered into Letter Agreement to the Supplemental Agreement to the Standby Equity Purchase Agreement with YA II PN, Ltd. and Yorkville Advisors Global, L.P. valued at Outstanding principal of $7,150,000 and accrued interest of $205,961 (effective 2023-08-16).

Action: entry
Agreement: equity purchase
Counterparty: YA II PN, Ltd. and Yorkville Advisors Global, L.P.
Value: Outstanding principal of $7,150,000 and accrued interest of $205,961
Effective: 2023-08-16

Exact text from the filing

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.

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KULR Technology Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-092530

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