Summary by Futu AI
KULR Technology Group, Inc. has announced the completion of several corporate actions approved by the majority of its voting capital stock through written consent, bypassing the need for a stockholders' meeting. The actions, approved on February 9, 2024, include strategic issuances of common stock potentially exceeding 20% of the outstanding shares, an amendment to the bylaws reducing the quorum for stockholder meetings to 33 1/3%, and a reverse stock split with a ratio between 1-for-2 and 1-for-80 as determined by the Board. Additionally, the company has approved common stock issuances in connection with the SEPA financing facility. These corporate actions are in compliance with Section 713 of the NYSE American LLC Company Guide and are aimed at improving marketability, liquidity, and maintaining NYSE American listing compliance. The Board and stockholders have also provided consent for these actions, which will become effective 20 days after the mailing of the Definitive Information Statement to stockholders as of February 9, 2024.