other material
confidence high
sentiment positive
materiality 0.65
Nauticus Robotics receives Series C preferred waiver delaying Sept. 30, 2026 triggering event to Dec. 31, 2027
Nauticus Robotics, Inc.
- Holder waived the Series C Section 5(a)(xv) triggering event for preferred shares outstanding on or after September 30, 2026, for the period from September 30, 2026 through December 31, 2027.
- The waiver avoids default dividend rate increase to 18% per annum and waives the 125% Triggering Event Conversion multiplier, including the 25% premium, during the Waiver Period.
- Existing 120% Conversion Amount calculation, ordinary conversion rights, and Alternate Optional Conversion rights are preserved; other triggers, breaches or defaults are not waived.
- Waiver became effective September 23, 2026, and expires automatically at the end of the Waiver Period; consequences apply prospectively from January 1, 2028 if preferred shares remain outstanding.