Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000106
Chunk: 47

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 47
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<div align='center'>(UNAUDITED)</div>

(including, for purposes of clarification, full-ratchet anti-dilution on the exercise price and number of underlying shares issuable based on the aggregate exercise price using $ 20.00as the base exercise price), (ii) are immediately exercisable upon issuance, and (iii) are exercisable until September 9, 2032.

If a registration statement covering the shares of Common Stock issuable upon exercise of the New SPA Warrants is not effective 60days after March 1, 2024 (or, in the event of a “full review” by the SEC, 120days after March 1, 2024), upon the registered holder’s election to exercise its New SPA Warrants, the registered holder may, until such time as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration statement, exercise its New SPA Warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act.

On December 31, 2023, the Company and ATW I, as the purchaser, entered into a Securities Purchase Agreement (the "PIPE SPA"), pursuant to which the purchaser agreed to purchase up to an aggregate of $ 5,000shares of Common Stock of the Company at a $ 2per share purchase price on a pre Reverse Stock Split basis. Based on the PIPE SPA, the exercise price of the SPA Warrants was reset from $ 6.00to $ 2.00.

In March 2024, ATW I exercised 158,334, on a post Reverse Stock Split basis, ( 5,700,000pre Reverse Stock Split) SPA Warrants in exchange for Common Stock. The Company did not receive cash in respect of this transaction.

In the second quarter of 2024, ATW I exercised 457,255SPA Warrants, on a post Reverse Stock Split basis, ( 16,461,186pre Reverse Stock Split) in exchange for Common Stock. The Company did not receive cash in respect of this transaction.

In the third quarter of 2024, SLS exercised 38,230SPA Warrants in exchange for Common Stock. The Company did not receive cash in respect of this transaction.

Unless context otherwise requires, the term “SPA Warrants” means (i) before the entry into the Letter Agreements, the Original SPA Warrants, and (ii) upon and following the entry into the Letter Ag