Company: KITTW
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001849820-25-000123
Chunk: 130

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-30
Form: ARS
Chunk 130
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 i. one-half of the Earnout Shares will be released if, within a 5-year period from September 9, 2022, the volume- weighted average price of our Common Stock equals or exceeds $15.00 (on a pre Reverse Stock Split basis) per share over any 20 trading days within a 30-day trading period; ii. one-quarter of the Earnout Shares will be released if, within a 5-year period from September 9, 2022, the volume- weighted average price of our Common Stock equals or exceeds $17.50 (on a pre Reverse Stock Split basis) per share over any 20 trading days within a 30-day trading period; and iii. one-quarter of the Earnout Shares will be released if, within a 5-year period from September 9, 2022, the volume- weighted average price of our Common Stock equals or exceeds $20.00 (on a pre Reverse Stock Split basis) per share over any 20 trading days within a 30-day trading period. As of December 31, 2024, the earnout targets have not been achieved and the Earnout Shares remain in escrow. 12. Warrants Public Warrants – We assumed 8,624,991 Public Warrants on September 9, 2022, which remained outstanding as of December 31, 2024. For every 36 Public Warrant, the holder is entitled to purchase one share of Common Stock at a price of $11.50, subject to adjustment. However, no Public Warrants will be exercisable for cash unless we have an effective and current registration statement covering the shares of Common Stock issuable upon exercise of the Public Warrants and a current prospectus relating to such shares of Common Stock. Notwithstanding the foregoing, if a registration statement covering the shares of Common Stock issuable upon exercise of the Public Warrants is not effective within 120 days of September 9, 2022, warrant holders may, until such time as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration statement, exercise Public Warrants on a cashless basis pursuant to an available exemption from exemption under the Securities Act. The Public Warrants expire on September 9, 2027, or earlier upon redemption or liquidation. Our Public Warrants are listed on Nasdaq under the symbol “KITTW”. We may redeem the outstanding Public Warrants, in whole and not in part, at