Nauticus Robotics raises $2.94M in Series B preferred offering; up to $7.84M total

Nauticus Robotics, Inc.

• Initial closing sold 3,000 shares of Series B Preferred at $980/share for $2.94M to an institutional investor.
• Investor may purchase up to 5,000 additional shares ($4.9M) over 72 months at $980/share.
• Conversion price fixed at $0.9181 per share; floor price $0.1836, with automatic price adjustments.
• Series B pays 10% annual dividend on as-converted basis, payable in common shares when dividends paid on common.
• Preferred ranks senior to common and Series A; no voting rights except as required by law.