Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000099
Chunk: 26

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 26
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 132% and a remaining term of 2.19years. A gain on change in fair value of $ 7,410,303and $ 11,914,729was reported in the condensed consolidated statements of operations for the three and six months ended June 30, 2024, respectively.

Conversion of Senior Secured Convertible Debentures

During the second quarter of 2024, ATW I converted new convertible debentures with a principal value of $ 2,194,231and interest of $ 43,167into 22,641,909shares on a pre Reverse Stock Split basis ( 628,942shares post Reverse Stock Split). The fair value of the new convertible debentures converted during the second quarter of 2024 was estimated at $ 3,485,645using Monte Carlo simulations with the following assumptions: stock price between $ 0.1380and $ 0.2309, a risk free rate of between 4.63% and 4.81%, implied volatility of between 123% and 133% and a remaining term of between 2.23years and 2.26years.

RCB Equities #1, LLC

On July 14, 2023, the Company issued a secured promissory note to RCB Equities #1, LLC (RCB) for $ 5,000,000. The promissory note included a 2.5% original issue discount or $ 125,000, interest at 15% per annum, and was scheduled to mature on September 9, 2026. The promissory note provided for an exit fee of $ 125,000if paid off in full between October 12, 2023, and the maturity date, with no other considerations triggered for premiums or penalties. Further, the promissory note provided for an automatic rollover into the structure of certain future debt-financing transactions. On September 18, 2023, the RCB promissory note was rolled into the convertible senior secured term loan discussed below bearing interest at 12.5% per annum including the $ 125,000exit fee.

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#### NAUTICUS ROBOTICS, INC.

### NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
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Convertible Senior Secured Term Loan

On September 18, 2023,