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KULR files petition in Delaware Court of Chancery to validate defective corporate acts and capitalization
KULRKULR Technology Group, Inc.
KULR Technology Group filed a verified petition in the Delaware Court of Chancery seeking validation under Section 205 of the DGCL for several foundational corporate acts, including a name change, authorized share increases, Series A Preferred Stock designation and issuances to CEO Michael Mo, an 8:1 reverse split, board expansion, and director appointments. The company cites technical defects in approvals that prevent self-ratification under Section 204 due to mixed valid and putative shares in the public float. Validation is critical to resolve uncertainty regarding Board composition and capitalization, which could otherwise hamper financing, strategic transactions, and routine corporate actions. KULR Technology Group develops and manufactures battery systems and thermal management technologies.