SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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Item 8.01 Other Events.
On April 22, 2022, KULR Technology Group, Inc. (the “Company”) and the holders of various outstanding warrants (the “Holders”) entered into an agreement (the “Agreement”) pursuant to which the Holders exercised, in full, an aggregate of 2,346,525 outstanding warrants (the “Warrants”) to purchase shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), at an exercise price of $1.25 per share. In connection with the exercise of the Warrants, the Company will receive gross proceeds of $2,933,156.25.
In consideration of the Holders’ early exercise, in full, of the Warrants, the Company agreed to issue to the Holders new, unregistered warrants (the “Unregistered Warrants”) to purchase an aggregate of 2,346,525 restricted shares of Common Stock, exercisable immediately, at an exercise price of $1.00 per share, which Unregistered Warrants terminates on December 31, 2025. Pursuant to the Agreement, the Holders received a right of participation in future equity offerings, except certain types of securities offerings, including “at-the-market” offerings. The participation right terminates upon the earlier of (i) the date that is the nine (9) month anniversary of the date of the Agreement; or (ii) the date on which the Unregistered Warrants are exercised in full.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| KULR TECHNOLOGY GROUP, INC. | ||
| Date: April 25, 2022 | By: | /s/ Michael Mo |
| Michael Mo President and Chief Executive Officer | ||