Company: KITTW
Filing Date: 2025-01-29
Form Type: 8-K
Source: 0001849820-25-000038
Chunk: 1

Company: Nauticus Robotics, Inc.
Filing Date: 2025-01-29
Form: 8-K
Item: Item 8.01
Chunk 1
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, the stockholders approved the issuance of shares of the Company’s common stock upon the conversion of the Preferred Stock pursuant to Nasdaq rule 5635. The total gross increase in shareholder equity resulting from the exchange was $35,434,000.

As previously disclosed by the Company in its filings with the SEC, on January 3, 2025, the Company reduced the conversion price of the loans under the Senior Secured Term Loan Agreement, dated as of January 30, 2024 to $1.59.

As previously disclosed by the Company in its filings with the SEC, on January 7, 2025, the Company filed a prospectus supplement to the prospectus dated May 6, 2024, announcing that the Company may now offer and sell additional shares of its common stock having an aggregate offering price of up to $6,646,516 from time to time under the At The Market Offering Agreement (the “ Sales Agreement”) with H. C. Wainwright & Co. LLC., or Wainwright. On January 14, 2025, the Company filed another prospectus supplement to the prospectus dated May 6, 2024, announcing that the Company may now offer and sell additional shares of its common stock having an aggregate offering price of up to $6,204,307 from time to time under the Sales Agreement and on January 15, 2025, the Company filed another prospectus supplement to the prospectus dated May 6, 2024, announcing that the Company may now offer and sell additional shares of its common stock having an aggregate offering price of up to $7,338,975 from time to time under the Sales Agreement. Since May 2024, the Company has offered common stock in the aggregate amount of $30 million as registered under the prospectus dated May 6, 2024, with the aggregate net proceeds of $28.8 million after expenses.

As a result of the exchange of the Existing Notes for the Series A Preferred Stock, and subsequent sales of common stock of the Company under the Sales Agreement, as of the date of this Current Report, the Company believes it has stockholders’ equity well in excess of the $2.5 million requirement for continued listing pursuant to Listing Rule 5550(b)(1) as the alternative requirement for the MVLS Requirement.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf