Company: KITTW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001849820-25-000211
Chunk: 67

Company: Nauticus Robotics, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 of a share dividend, extraordinary dividend or our recapitalization, reorganization, merger or consolidation.The Public Warrants, which are accounted for as liabilities in our condensed consolidated balance sheets, were valued as of June 30, 2025 and December 31, 2024 at $31,778 and $9,080, respectively, based on their publicly-traded price. For the three months ended June 30, 2025 and 2024, the Company reported a loss in value of the Public Warrants of $11,465 and $6,900, respectively. For the six months ended June 30, 2025 and 2024, the Company reported a loss and gain in value of the Public Warrants of $22,698 and $192,338, respectively. The change in fair value of the Public Warrants was reported within other (income) expense in our condensed consolidated statements of operations.Private Warrants – We assumed 7,175,000 Private Warrants, which are not publicly traded, on September 9, 2022. These remained outstanding as of June 30, 2025. For every 36 Private Warrants, the holder is entitled to purchase one share of Common Stock at an exercise price of $11.50 and is identical in all material respects to the Public Warrants except that the Private Warrants are exercisable for cash (even if a registration statement covering the shares of Common Stock issuable upon exercise of such warrants is not effective) or on a cashless basis, at the holder’s option, and will not be redeemable by us, in each case so long as they are still held by the initial purchasers or their affiliates. The Private Warrants purchased by CleanTech Investments, LLC are not exercisable after July 14, 2026, as long as Chardan Capital Markets, LLC or any of its related persons beneficially own these Private Warrants.The Private Warrants, which are accounted for as liabilities in our condensed consolidated balance sheets, were valued as of June 30, 2025 and December 31, 2024 at $11,682 and $7,884, respectively. The fair value of the Private Warrants was estimated using a Black-Scholes option pricing model using the following assumptions: stock price of $0.90, no assumed dividends, a risk-free rate of 3.71%, implied volatility of 180.6%, and a remaining term of 2.19 years. For the three months