other material
confidence high
sentiment positive
materiality 0.45
Nauticus Robotics wins Series A preferred waiver of Sept 30, 2026 Triggering Event through Jan 31, 2027
Nauticus Robotics, Inc.
- Series A holder waived the Sept 30, 2026 Triggering Event — preferred shares remain outstanding — for the period Sept 30, 2026 through Jan 31, 2027.
- Waiver suspends dividend rate increase to the 18% default rate, related incremental dividends, and Triggering Event Conversion including the 125% multiplier (25% premium) on the Conversion Amount.
- Relieves Nauticus of the Triggering Event notice requirement; Specified Event disregarded for Equity Conditions; existing 120% Conversion Amount calculation is unaffected.
- Other Series A, B and C preferred holders will sign substantially similar waivers, with waiver periods ending no earlier than Jan 31, 2027; covenants bar side benefits to other holders.
- From Feb 1, 2027, the Triggering Event and its consequences apply prospectively if any Series A shares remain outstanding, with no retroactive penalties for the Waiver Period.