KULR - KULR Announces Proposed Public Offering of Common Stock | Benzinga
SAN DIEGO, Sept. 12, 2023 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. All of the shares of common stock in the underwritten public offering are to be sold by the Company. The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering solely to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The Company intends to use the net proceeds from the proposed offering to pay off certain amounts of the outstanding balance owed under its existing financing facility, as well as for working capital and general corporate purposes.
The Benchmark Company is acting as the sole book-running manager for the offering and Titan Partners Group, a division of American Capital Partners, LLC is acting as the co-manager.
The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-257697), including a base prospectus, ...