KULR Technology announces expiration of SEPA facility, compliance with NYSE

KULR Technology Group will not be extending its Standby Equity Purchase Agreement, with YA II PN, LTD. terminated on June 1, 2024. Furthermore, the Company confirms that it has retired all outstanding debt owed to Yorkville. This marks a significant milestone for KULR as it executes its strategic initiatives, reduces its cash consumption, and otherwise strengthens its financial condition. As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed on April 12, 2024, with the Securities and Exchange Commission, the audited financial statements contained an unqualified audit opinion from its independent registered public accounting firm that included an explanatory paragraph related to the Company’s ability to continue as a going concern. This announcement is being made solely to comply with the NYSE American LLC Company Guide Section 610(b), which requires public announcement of the receipt of an audit opinion containing a going concern paragraph. This announcement does not represent any change or amendment to the Company’s audited financial statements or to its Annual Report on Form 10-K for the year ended December 31, 2023.