Nauticus secures Petrobras contract, raises $9.6M via warrant repricing, issues 1.89M shares

Nauticus Robotics, Inc.

Won Petrobras contract to deploy Aquanaut for ~2 months subsea inspection; potential market >$100M/yr.
Repriced existing warrants to weighted avg exercise price of $3.28/share; expects ~$9.6M gross proceeds.
Issued new warrants to purchase up to 2.9M shares at $20/share, exercisable through Sep 2032.
Settled registration rights claims by issuing 1,890,066 shares to holders; will file S-3 for resale.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Nauticus Robotics, Inc. amended First Amendment to Registration Rights Agreement with certain investors (the "Holders") (effective 2023-06-22).

Action: amendment
Counterparty: certain investors (the "Holders")
Effective: 2023-06-22

Exact text from the filing

on June 22, 2023, the Company and the Holders entered into the First Amendment to Registration Rights Agreement (the “ Amended RRA ”), pursuant to which the Company has agreed to deliver to the Holders an aggregate of 1,890,066 shares of Common Stock (the “ RRA Shares ”), in exchange for the release by the Holders of any and all claims, remedies, or causes of action under any of the Transaction Documents (as defined in the RRA), including all past and future claims for liquidated damages under the RRA.

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Nauticus Robotics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-051132

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