Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000099
Chunk: 44

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 44
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 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 Agreements, (a) the Amended SPA Warrants, and (b) the New SPA Warrants.

The SPA Warrants, which are accounted for as liabilities in our condensed consolidated balance sheets, were valued as of June 30, 2024, at $ 709,081and as of December 31, 2023 at $ 17,544,561. The fair value of the SPA Warrants was estimated using a Black-Scholes option pricing model using the following pre-reverse stock split assumptions: stock price of $ 0.14, no assumed dividends, implied volatility of 143.0%, and a remaining term of 8.25years. The change in value of the SPA Warrants during the three and six months ended June 30, 2024, was a gain of $ 4,441,987and $ 12,384,317, respectively. The change in value of the SPA Warrants during the three and six months ended June 30, 2023, was a gain of $ 29,657,015and $ 26,819,502, respectively, and was reported with other (income) expense in our condensed consolidated statements of operations.

#### 14. Stock-Based Compensation
Total stock-based compensation expense including options, PRSUs, and RSUs for the three and six months ended June 30, 2024 and 2023, net of forfeiture adjustments, totaled $ 809,310and $ 1,339,965, and $ 1,862,164and $ 3,077,027, respectively.

#### 15. Employee Benefit Plan
Nauticus offers a 401(k) plan which permits eligible employees to contribute portions of their compensation to an investment trust. The Company makes contributions to the plan totaling 3% of employees’ gross salaries and such contributions vest immediately. The 401(k) plan provides several investment options, for which the employee has sole investment discretion. The Company’s cost for the 401(k) plan was $ 48,261and $ 103,265, and $ 42,165and $ 159,506, for the three and six months ended June 30, 2024 and 2023, respectively.

#### 16. Related Party Transactions
SPA W