secwatch.observer — SEC 8-K summary
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Issuer:     KULR Technology Group, Inc. (KULR)
CIK:        0001662684
Form:       8-K
Filed at:   2023-08-30T23:59:59+00:00
Accession:  0001104659-23-096925
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KULR modifies Yorkville equity line terms, extends note repayment to Sep 22
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- Entered Letter Agreement with Yorkville modifying $50M SEPA; $7.15M principal plus interest outstanding.
- If raises ≥$15M, entire note plus 5% premium due; else staged payments: $1.5M by Sep 22, $1.5M by Nov 30, $2M by Dec 31, balance by Jan 31, 2024.
- Failure to pay triggers Event of Default: floor price reduced to 80% of close (min $0.20) and possible shareholder vote for exchange cap.
- Yorkville cannot request advances until Dec 2023, then capped at ~$1.383M/month, subject to reductions from repayments.
- Press release announces extension of initial repayment to Sep 22, 2023, allowing focus on operations and growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1662684/000110465923096925/0001104659-23-096925-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1662684/000110465923096925/tm2325197d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-096925

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