secwatch.observer — SEC 8-K summary
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Issuer:     Nauticus Robotics, Inc. (KITT)
CIK:        0001849820
Form:       8-K
Filed at:   2023-09-21T23:59:59+00:00
Accession:  0001213900-23-078141
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nauticus Robotics secures up to $20M secured term loan from existing investors; $11.6M funded
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- Term loan up to $20M, $11.6M funded immediately; 12.50% interest, convertible at $6.00/share.
- Lenders include Transocean (RIG), ATW Partners, Material Impact, and RCB Equities.
- Loan secured by first lien on all assets; existing debentures move to second lien.
- Maturity: earlier of 3 years, 91 days before debenture maturity, or if $35M+ new debt received.
- Company actively discussing larger capital round with new investors to support fleet expansion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1849820/000121390023078141/0001213900-23-078141-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1849820/000121390023078141/ea185406-8k_nauticusrobo.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-078141

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer