Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000097
Chunk: 51

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 51
---
 expenses totaling $ 703,805.

SeaTrepid Acquisition

On March 5, 2025, the Company and SeaTrepid International, L.L.C., a Louisiana limited liability company, SeaTrepid Deepsea LLC, a Louisiana limited liability company, Remote Inspection Technologies, L.L.C., a Louisiana limited liability company (each, a “Seller” and collectively, “Sellers”), and certain individual selling persons entered into an Asset Purchase Agreement. Pursuant to the Purchase Agreement, the Company agreed to acquire (the “Acquisition”) substantially all of the assets and certain specified liabilities of the Sellers related to applied robotic solutions and the robotic equipment development and operation.

On March 20, 2025, the Company consummated the Acquisition pursuant to the terms of the Purchase Agreement for a total value of $ 16million, which consists of (1) the aggregate purchase price of $ 4million in cash paid at closing and $ 4million in cash that will be paid on or before September 30, 2025 and (2) Earn-Out Shares valued at $ 5.5million; and the assumption of $ 2.8million in Sellers’ notes payable. An aggregate amount of newly issued shares of the Company’s common stock, par value $ 0.00001per share (the “Earn-Out Shares”) worth $ 5.5million may be paid to Sellers, subject to and payable in accordance with earn-out thresholds during the measurement period between closing and six monthsafter closing, as specified in the Purchase Agreement.

Nasdaq Listing Compliance

1

<div align='center'>29</div>

#### NAUTICUS ROBOTICS, INC.

### NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
<div align='center'>(UNAUDITED)</div>

On July 24 and August 14, 2024, the Company received determination letters from Nasdaq notifying the Company that it had not regained compliance with the minimum $35 million market value of listed securities requirement for continued listing on The Nasdaq Capital Market as set forth in Listing Rule 5550(b)(2) (the “MVLS Requirement”) or any of the alternative requirements in Listing Rule 5550(b), and that the additional delinquency may serve as a separate basis for the delisting of the Company’s securities from Nasdaq. The Company timely requested a hearing before the Nasdaq hearings panel.

On September 18, 2024, the hearings panel granted the Company an exception