Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000099
Chunk: 36

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 36
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 Market. The Company’s stockholders approved the Certificate of Amendment at a special meeting held on June 17, 2024.

All options, warrants and other convertible securities of the Company outstanding immediately prior to the split have been adjusted in accordance with the terms of the plans, agreements or arrangements governing such options, warrants and other convertible securities and subject to rounding to the nearest whole share.

Each stockholder’s percentage ownership interest in the Company and proportional voting power will remain virtually unchanged by the split, except for minor changes and adjustments that will result from rounding fractional shares into whole shares. The rights and privileges of the holders of shares of the Company’s common stock will be substantially unaffected.

As the par value per share of common stock was not changed in connection with the Reverse Stock Split, we recorded a decrease of $ 14,460and $ 4,865to common stock on our consolidated balance sheet with a corresponding increase in additional paid-in capital as of June 30, 2024 and December 31, 2023, respectively.

Unless otherwise noted, all references in the condensed consolidated financial statements and notes to condensed consolidated financial statements to the number of shares, per share data, restricted stock and stock option data have been retroactively adjusted to give effect to the Reverse Stock Split.

Common Stock – A total of 4,131,426shares of Common Stock were outstanding as of June 30, 2024.

During the second quarter of 2024, ATW I converted secured debentures with a principal value of $ 2,194,231and interest of $ 43,167into 22,641,909shares of Common Stock, on a pre Reverse Stock Split basis, ( 628,942shares post Reverse Stock Split).

During the second quarter of 2024 the Company entered into an At The Market ("ATM") Offering Agreement to offer and sell shares of our Common Stock having an aggregate offering price of up to $ 9,858,269. Under this offering we issued and sold 50,631,263shares, on a pre Reverse Stock Split basis, ( 1,406,424shares post Reverse Stock Split), for gross proceeds of $ 9,857,857and net proceeds of 9,357,954after deducting commissions and offering expenses totaling $ 499,903.

On December 31, 2023, the Company and ATW I, as the purchaser, entered into a Securities Purchase Agreement (the “PIPE SPA”), pursuant to which the purchaser agreed to purchase