KULR Technology Group, Inc. (NYSE American: KULR) introduced it has entered right into a Managed Fairness Offering Gross sales Settlement with Cantor Fitzgerald & Co. and Craig-Hallum Capital Group LLC, enabling the corporate to promote as much as $300 million of its frequent inventory in an at-the-market (ATM) providing to help its Bitcoin treasury reserve.
Beneath the settlement, Cantor Fitzgerald will act as the only gross sales agent, utilizing commercially cheap efforts to promote shares at market costs. The providing shall be made below an present shelf registration and should happen now and again based mostly on market situations and firm discretion.
As of June 6, 2025, KULR’s frequent inventory was buying and selling at $1.18 per share. The whole variety of shares issued below the settlement won’t exceed the corporate’s approved however unissued shares, after accounting for shares already reserved or dedicated.
“Our common stock is listed and traded on the NYSE American LLC under the symbol ‘KULR,’” acknowledged the submitting.
KULR can pay the gross sales brokers a fee of as much as 3.0% of the product sales proceeds. The brokers are thought of underwriters below the Securities Act of 1933, and KULR has agreed to indemnify them in opposition to sure liabilities.
“Our business and an investment in our common stock involve significant risks,” acknowledged the submitting. “These risks are described under the caption “Risk Factors” starting on web page S-6 of this prospectus complement, and the chance components integrated by reference into this prospectus complement and the accompanying base prospectus.”
KULR began adopting bitcoin as their major treasury reserve asset in December 2024. Their technique focuses on buying and holding bitcoin by utilizing money flows that exceed working capital necessities, issuing fairness debt securities or elevating extra capital to buy extra Bitcoin.
“We view our bitcoin holdings as long term holdings and expect to continue to accumulate bitcoin,” talked about the submitting on web page S-2. “We have not set any specific target for the amount of bitcoin we seek to hold, and we will continue to monitor market conditions in determining whether to engage in additional bitcoin purchases. This overall strategy also contemplates that we may periodically sell bitcoin for general corporate purposes or in connection with strategies that generate tax benefits in accordance with applicable law, enter into additional capital raising transactions, including those that could be collateralized by our bitcoin holdings, and consider pursuing strategies to create income streams or otherwise generate funds using our bitcoin holdings.”
