Company: KITTW
Filing Date: 2025-10-28
Form Type: SCHEDULE 13D/A
Source: 0001193125-25-254033
Chunk: 3

Company: Nauticus Robotics, Inc.
Filing Date: 2025-10-28
Form: SCHEDULE 13D/A
Chunk 3
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 of this Statement and Item 2 above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 The Series A Preferred Stock is convertible into shares of Common Stock at the "Alternate Conversion Price" equal to the lesser of: (a) the Conversion Price, which following the Reverse Split is $8.2629; and (b) the greater of (i) the Floor Price, which following the Reverse Split is $2.214 and (ii) 98% of the lowest volume weighted average price of the Common Stock during the 10 consecutive trading days immediately prior to such conversion ("VWAP Price").  The number of shares of Common Stock underlying the Series A Preferred Stock held by the Reporting Person set forth on the cover pages of this Statement assumes that the Series A Preferred Stock is converted at the Floor Price, which is the Applicable Conversion Price as of October 24, 2025.  In the event that following October 24, 2025, the VWAP Price is greater than the Floor Price, the number of shares of Common Stock underlying the Series A Preferred Stock will increase and decrease based on fluctuations in the VWAP Price.  The Reporting Persons do not undertake to amend this Statement further if such amendment would be solely triggered as a result of such fluctuations.                                                                                                                                                                                                                                                                                                                                                                                                   
 The September 2023 Term Loans are convertible into shares of Common Stock at a conversion price of $1,944 (the "September 2023 Term Loan Conversion Price"). On October 25, 2025, pursuant to the terms of the September 2023 Term Loan Agreement (as defined in the Original Schedule 13D) and those certain Amendment to Term Loan Agreements between the Issuer and each of the Lenders (as defined therein), including MIF II, the Issuer voluntarily and temporarily reduced the conversion price of the September 2023 Term Loans to $1.76 (the "Temporary Conversion Price"), which was the closing price of the Issuer's Common Stock on October 24, 2025, for the period commencing on October 25, 2025 and ending on November 7, 2025 (the "September 2023 Term Loan Reduction Period"). The number of shares of Common Stock underlying the September 2023 Term Loans held by the Reporting Person set forth on the cover pages of this Statement assumes that the September 2023 Term Loans are converted at the September 2023 Term Loan Conversion Price. During the September 2023 Term Loan Reduction Period,