secwatch.observer — SEC 8-K summary
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Issuer:     Nauticus Robotics, Inc. (KITT)
CIK:        0001849820
Form:       8-K
Filed at:   2025-12-04T23:59:59+00:00
Accession:  0001849820-25-000296
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 1.02, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nauticus Robotics exchanges debt for Series C Preferred with conversion at $0.95, floor $0.19
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- Exchanges up to 3,814 shares of Series C Preferred Stock for existing convertible debt and debentures.
- Series C Preferred: stated value $1,000, conversion price $0.95, floor $0.19, alternative conversion at 98% of 10-day VWAP.
- Company must seek stockholder approval by Jan 17, 2026 for share issuances; meetings by Mar 3, 2026 for reverse split up to 250:1 and authorized share increase to 1.5B.
- Dividends of 10% per annum on as-if-converted basis; Triggering events increase dividend to 18% and allow alternate conversion.
- Company option to redeem all Series C Preferred at 25% premium; holders get 25% premium on bankruptcy triggering event.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1849820/000184982025000296/0001849820-25-000296-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1849820/000184982025000296/kitt-20251203.htm
  HTML page:      https://secwatch.observer/filing/0001849820-25-000296

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