Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000106
Chunk: 35

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 35
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 agent, and the lenders party thereto. Pursuant to the Amendment, ATW III, one of the lenders under the 2024 Term Loan Agreement, will loan an additional $ 1,000,000(the "May 2024 Incremental Loan") to the Company. The May 2024 Incremental Loan will have the same terms as the ATW Extended Maturity Term Loan under the 2024 Term Loan Agreement and will mature on the 30th anniversary of the date of the 2024 Term Loan Agreement or such earlier date as is required or permitted to be repaid under the 2024 Term Loan Agreement. The May 2024 Incremental Loan incurred debt issuance costs of $ 37,500which are being amortized to interest expense over the period of the loan.

Interest expense includes the following relating to the 2023 Term Loan, the December 2023 Incremental Loan, the January 2024 Incremental Loan, 2024 Loans and the May 2024 Incremental Loan (collectively the "convertible senior term loans"):

|                                     |     | 2024 | Three months ended 
      September 30, |     | 2023 |       |     | 2024 | Nine months ended September 30, |     | 2023 |       |
|:------------------------------------|:----|:-----|-------------------:|:----|:-----|------:|:----|:-----|--------------------------------:|:----|:-----|------:|
| Debt discount amortization          |     | $    |             10,074 |     | $    | 8,473 |     | $    |                          29,942 |     | $    | 8,473 |
| Amortization of debt issuance costs |     |      |            174,318 |     |      |     - |     |      |                         486,758 |     |      |     - |
| Provision for bridge note exit fee  |     |      |             24,583 |     |      | 3,183 |     |      |                          73,058 |     |      | 3,183 |

#### 9. Leases
The Company determines if an arrangement is a lease at inception based on whether the Company has the right to control the use of an identified asset, the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. After