secwatch.observer — SEC 8-K summary
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Issuer:     Nauticus Robotics, Inc. (KITT)
CIK:        0001849820
Form:       8-K
Filed at:   2024-12-27T23:59:59+00:00
Accession:  0001849820-24-000292
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.03, 1.02, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nauticus Robotics exchanges remaining debentures into Series A Preferred; $1,000 stated value, $1.23 conversion price
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- Filed Certificate of Designation for 40,000 shares of Series A Convertible Preferred Stock with $1,000 stated value per share.
- Series A Preferred carries 5% dividend on an as-if-converted basis, no voting rights.
- Holders may convert at fixed price $1.23 per share or an alternate conversion price upon triggering events.
- Company may redeem all outstanding Series A Preferred at a 25% premium to the greater of conversion amount or underlying equity value.
- Exchange executed under Section 3(a)(9) exemption; reduces debt from existing convertible debentures.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1849820/000184982024000292/0001849820-24-000292-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1849820/000184982024000292/kitt-20241227.htm
  HTML page:      https://secwatch.observer/filing/0001849820-24-000292

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