Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001849820-25-000108
Chunk: 86

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 86
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 a conversion price of $1.23. In addition, the debt under the term loans closed in September 2023 and January 2024 are convertible into 74,297 shares at a conversion price of $216 and 694,075 shares at a conversion price of $16.50 respectively. The Series A Preferred Stock is convertible, at the election of the holders, into 34,179,512 shares of Common Stock, assuming a conversion price of $1.23.

The Public Warrants, Private Warrants, and SPA Warrants may be exercised for, and the Debentures and debentures under the term loans may be converted into, only a whole number of shares of Common Stock. To the extent any (i) outstanding Public Warrants, Private Warrants, SPA Warrants or New SPA Warrants are exercised; (ii) Debentures are converted; (iii) outstanding Nauticus Options are exercised; or (iv) Earnout Shares are released, additional shares of Common Stock will be issued, which will result in dilution to the then-existing holders of our Common Stock and increase the number of shares of Common Stock eligible for resale in the public market. Sales of substantial numbers of shares of Common Stock in the public market could adversely affect the market price of our Common Stock.