Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000106
Chunk: 57

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 57
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 exercise price will be adjusted to such lower price.

Conversion of Senior Secured Convertible Debentures into Common Stock

During the three months ended December 31, 2024, ATW I and SLS converted Senior Secured Convertible Debentures with a principal value of $ 7,250,000and $ 1,836,720and interest of $ 302,445and $ 4,785into 2,867,290and 699,053shares of Common Stock, respectively.

Change of Note Conversion Price

Pursuant to the terms of the Senior Secured Term Loan Agreement, dated as of January 30, 2024 by and among the Company, as borrower, the lenders from time to time party thereto and ATW Special Situations Management LLC, as

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#### NAUTICUS ROBOTICS, INC.

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

collateral agent the Lenders agreed to make Loans to the Company which Loans are convertible, in whole or in part, into shares of Common Stock of the Company at an initial Conversion Price of $ 0.4582subject to adjustment from time to time as provided in the Term Loan Agreement (including the reverse stock split of the Company).

Pursuant to Section 5(d) of the Loan Agreement, the Company may, with the prior written consent of the Required Lenders (ATW, or if ATW does not hold any Loans, lenders holding at least 50.1% of the outstanding principal Loan balance), and subject to Nasdaq rules, voluntarily reduce the then current conversion price to any amount and for any period of time deemed appropriate by the board of directors of the Company. The conversion of the Loans is subject to the Lender’s beneficial ownership limitation of 4.99% of outstanding shares (except one Lender).

On January 3, 2025, the Company reduced the conversion price of the loans under the Senior Secured Term Loan Agreement, dated as of January 30, 2024 to $ 1.59.

ATM

In January, 2025 the Company conducted At The Market (“ATM”) offerings to offer and sell shares of the Company's Common Stock for an aggregate offering price of up to $ 20,189,798. Under this offering we issued and sold 7,488,822shares, for gross proceeds