KULR Retires All Outstanding Yorkville Debt
SAN DIEGO, March 27, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today announced that all outstanding debt owed to Yorkville Advisors ("Yorkville") has been retired in accordance with their terms.
"Retiring the outstanding Yorkville debt is a significant step for the Company," said KULR's CEO, Michael Mo. "The net proceeds from the financing helped fund our migration from a thermal management solutions provider to our current KULR ONE Design Solutions ("K1-DS") platform. I view it as a very positive step that we can once again say that we carry no debt on our balance sheet, other than normal course payables and financing arrangements."
Mo continued, "We remain excited about our outlook as we drive to deliver new, innovative technologies and creative marketing initiatives to further expand the reach of our K1-DS platform, while adding new customers in 2024 and beyond."
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company offering proven solutions that play a critical role in accelerating the electrification of the
circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has
evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information, please visit www.kulrtechnology.com.
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actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors
disclosed in our Form 10-K filed with the Securities and Exchange Commission on March 28, 2023, as may be amended or supplemented by other reports we file with the Securities and Exchange
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management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and
services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
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