Nauticus Robotics, Inc. (KITT): Nasdaq/NYSE listing notice — Nauticus receives Nasdaq non-compliance notice; CEO John Gibson gets new employment agreement

Nauticus Robotics, Inc.

Nasdaq notified Nauticus that market value of listed securities fell below $35M minimum for 30 consecutive business days; 180-day cure period.
Company entered employment agreement with John W. Gibson, Jr. as CEO: $250K base salary, target annual bonus of 100% of base.
Grant of 2,100,000 RSUs vesting ratably over 3 years; prior success bonus of $684K converted to RSUs (50% vests immediately, remainder Jan 1, 2025).
Term of 3 years, auto-renew; severance on termination without cause or non-renewal includes 12 months salary, bonus, and partial RSU vesting.
Company intends to monitor market value and explore options to regain compliance within grace period; failure may lead to delisting.

item 3.01 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Nauticus Robotics, Inc. received a nasdaq noncompliance notice notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

February 15, 2024, Nauticus Robotics, Inc. (the “Company”) received written notice from Nasdaq notifying it that the market value of the listed securities of the Company had not met the minimum $35 million requirement for the previous 30 business days, as required for continued listing on the Nasdaq under Nasdaq Listing Rule 5550(b)(2). The notice has no immediate impact on the listing of the Company’s common stock and warrants, which will continue to be listed and trade on Nasdaq subject to the Company’s continued compliance with the other listing requirements of Nasdaq Rules. The Company’s s

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Nauticus Robotics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-016188

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