other material
confidence high
sentiment positive
materiality 0.60
Nauticus Robotics gets waivers for Series B/C preferred triggering event through March 31, 2027
Nauticus Robotics, Inc.
- Nauticus Robotics received two executed waivers on Sept. 30, 2026 for Series B and Series C preferred stock, waiving the Section 5(a)(xv) triggering event through March 31, 2027.
- The waivers suspend the 18% default dividend rate, incremental dividends, and Triggering Event Conversion, including the 125% multiplier (25% premium), while preserving the 120% Conversion Amount.
- The Section 5(b) notice requirement is waived, and the specified event is disregarded for Equity Conditions; after March 31, 2027, consequences apply prospectively if shares remain outstanding.
- The Series B waiver is Exhibit 10.1 and the Series C waiver is Exhibit 10.2; CEO John W. Gibson Jr. acknowledged receipt.
- Nauticus common stock KITT and warrants KITTW trade on Nasdaq; the waivers bind only the signing holder's preferred shares and do not bind non-signing holders.