KULR prices $2.5M public offering of 7.1M shares at $0.35; CEO participates

KULR Technology Group, Inc.

Company priced underwritten public offering of 7,142,857 shares at $0.35 per share for gross proceeds of ~$2.5M.
CEO Michael Mo participating in the offering; proceeds to pay down existing financing facility and for working capital.
Underwriters granted 30-day option to purchase up to 1,071,428 additional shares (15% over-allotment).
Closing expected September 15, 2023; Benchmark Company acting as sole book-running manager.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

KULR Technology Group, Inc. entered into Underwriting Agreement with The Benchmark Company, LLC valued at $2,500,000 million (effective 2023-09-12).

Action: entry
Agreement: underwriting
Counterparty: The Benchmark Company, LLC
Value: $2,500,000 million
Effective: 2023-09-12

Exact text from the filing

On September 12, 2023, KULR Technology Group, Inc. (the “Company”) entered into an Underwriting Agreement (the “Agreement”) with The Benchmark Company, LLC, the sole book-running manager and representative of several underwriters (the “Representative”) relating to an underwritten offering (the “Offering”) of 7,142,857 shares (“Shares”) of common stock of the Company (“Common Stock”) at a price to the public of $0.35 per share (the “Offering Price”).

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KULR Technology Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-100241

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