KULR Technology Group, Inc. (the "Company" or "KULR"), a Bitcoin First Company and global leader in sustainable energy management, announced that it will effect a 1-for-8 reverse stock split of its outstanding common stock. This will be effective for trading purposes as of the commencement of trading on June 23, 2025. KULR’s common stock will continue to trade on the NYSE-American Market under the symbol “KULR” and under a new CUSIP number.
The noncompulsory decision to implement this stock split reflects the Company’s aim to optimize market dynamics, broaden investor appeal and accessibility, and align the stock’s trading conditions with the best interests of its investors.
KULR CEO Michael Mo commented, “KULR is implementing a reverse stock split to better position itself for broader institutional participation and long-term shareholder value. While our shares already trade with ample liquidity, we believe that a higher share price will allow us to take advantage of potential inclusion in institutional portfolios and trading platforms that have minimum price thresholds, particularly as we approach the upcoming Russell 3000® Index reconstitution later this month. We think this action optimizes alignment with preferred institutional buying parameters with the goal of broadening our shareholder base.”
As a result of the reverse stock split, every 8 pre-split shares of common stock outstanding will become one share of common stock. The par value of KULR’s common stock will remain unchanged at $0.0001 per share after the reverse stock split. The reverse stock split will not change the authorized number of shares of KULR’s common stock. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in KULR’s equity, except to the extent that the reverse stock split results in some stockholders owning a fractional share. No fractional shares will be issued in connection with the reverse stock split. Instead, in lieu of any fractional shares to which a stockholder of record would otherwise be entitled as a result of the reverse stock split, the Company will issue to such stockholder, at the participant level, such additional fraction of a share as is necessary to increase such resulting fractional share to a full share of common stock. The reverse stock split will also apply to common stock issuable upon the exercise of the Company’s outstanding warrants and stock options, with a proportionate adjustment to the exercise prices thereof, and under KULR’s equity incentive plan.
The reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 300 million to approximately less than 40 million.
Vstock Transfer is acting as the exchange agent and transfer agent for the reverse stock split. Stockholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the reverse stock split. Beneficial holders are encouraged to contact their bank, broker or custodian with any procedural questions.
