Letter Agreement Extending Payment Deadline between KULR Technology Group, Inc. and YA II PN, Ltd. (January 9, 2024)

Contract Categories: Business Finance › Modification Agreements
Summary

KULR Technology Group, Inc. and YA II PN, Ltd., managed by Yorkville Advisors Global, L.P., have agreed to extend the payment deadline for an outstanding amount owed by KULR under previous agreements. The investor will defer the required December payment until the due date of the February payment, while KULR commits to continue making incremental payments. This agreement updates and memorializes the parties' current understanding regarding payment timing.

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EX-10.1 2 tm242423d1_ex10-1.htm EXHIBIT 10.1

Exhibit 10.1

 

 

January 9, 2024

 

KULR Technology Group, Inc.

4863 Shawline Street

San Diego, CA 92111

Email: ***@***

 

Dear Sirs:

 

I am writing on behalf of YA II PN, Ltd (the “Investor”), which is managed by Yorkville Advisors Global, L.P. Reference is made to the August 30, 2023 Letter Agreement (as amended on November 6, 2023 and on December 19, 2023, the “August Letter Agreement”), entered into between KULR Technology Group, Inc, a Delaware corporation (the “Company”) and the Investor, which August Letter Agreement amended and supplemented that certain Supplemental Agreement dated September 23, 2022 (the “Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to them in the Agreement and the August Letter Agreement, as applicable.

 

This letter agreement, being entered into by the parties hereto on the date set forth above (the “Letter Agreement”), is intended to memorialize the current understanding between the Company and Investor. The Company is committed to continuing to make incremental payments towards the outstanding amounts owed under the Advances.

 

In addition, the Investor agrees to extend the due date and defer the requirement for the Company’s payment of the December Payment until the due date of the February Payment.

 

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  YA II PN, LTD.
   
  By: Yorkville Advisors Global LP
  Its: Investment Manager
   
    By: Yorkville Advisors Global II, LLC
    Its: General Partner
   
    By: /s/ Matt Beckman
    Name: Matt Beckman
    Title: Member

 

Agreed and accepted by:  
   
KULR Technology Group, Inc.  
   
By: /s/ Michael Mo  
Name: Michael Mo  
Title: Chief Executive Officer  

 

 

 

cc: Sichenzia Ross Ference Carmel LLP

via Email: ***@***