Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000097
Chunk: 27

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 27
---
.3195, a risk free rate of 4.51%, implied volatility of 123% and a remaining term of 2.44years. A gain on change in fair value of $ 4,504,426 was reported in the condensed consolidated statements of operations for the three months ended March 31, 2024.

As of December 31, 2023, the convertible debentures payable was $ 19,936,963, including unamortized debt discount of $ 16,593,357. The debt discount was being accreted to interest expense over the four-yearterm of the debentures.

RCB Equities #1, LLC

On July 14, 2023, the Company issued a secured promissory note to RCB Equities #1, LLC (RCB) for $ 5,000,000. The promissory note included a 2.5% original issue discount or $ 125,000, interest at 15% per annum, and was scheduled to mature on September 9, 2026. The promissory note provided for an exit fee of $ 125,000if paid off in full between October 12, 2023, and the maturity date, with no other considerations triggered for premiums or penalties. Further, the promissory note provided for an automatic rollover into the structure of certain future debt-financing transactions. On September 18, 2023, the RCB promissory note was rolled into the convertible senior secured term loan discussed below bearing interest at 12.5% per annum including the $ 125,000exit fee.

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#### NAUTICUS ROBOTICS, INC.

### NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
<div align='center'>(UNAUDITED)</div>

Convertible Senior Secured Term Loan

On September 18, 2023, the Company entered into a convertible senior secured term loan agreement, the "2023 Term Loan Agreement", with ATW Special Situations II LLC ("ATW II") as collateral agent (in such capacity, the “Collateral Agent”) and lender, and Transocean Finance Limited, ATW I, MIF, and RCB, as lenders.

The 2023 Term Loan Agreement provides the Company with up to $ 20million of secured term loans. Any portion of the outstanding principal amount of the loans is prepayable at