Nauticus Robotics announced a 1-for-36 reverse stock split of its common stock, effective July 22, 2024, aimed at meeting Nasdaq Capital Market's minimum bid price requirements. The split was approved by shareholders on June 17, 2024, and trading on a split-adjusted basis will commence on July 23, 2024, under the same symbol "KITT" with a new CUSIP number.The reverse split will consolidate every 36 shares into one share, with fractional shares rounded up to the nearest whole share. This corporate action will not materially affect shareholders' percentage ownership or voting rights, except for minor adjustments from rounding. All outstanding options, warrants, and convertible securities will be proportionally adjusted.The company's business focuses on developing autonomous robots for ocean industries, offering robotic services, vehicle sales, and software licensing to commercial and defense sectors. Their technology includes AI-driven solutions for subsea operations, aimed at reducing operational costs and environmental impact.

Nauticus Robotics announced a 1-for-36 reverse stock split of its common stock, effective July 22, 2024, aimed at meeting Nasdaq Capital Market's minimum bid price requirements. The split was approved by shareholders on June 17, 2024, and trading on a split-adjusted basis will commence on July 23, 2024, under the same symbol "KITT" with a new CUSIP number.The reverse split will consolidate every 36 shares into one share, with fractional shares rounded up to the nearest whole share. This corporate action will not materially affect shareholders' percentage ownership or voting rights, except for minor adjustments from rounding. All outstanding options, warrants, and convertible securities will be proportionally adjusted.The company's business focuses on developing autonomous robots for ocean industries, offering robotic services, vehicle sales, and software licensing to commercial and defense sectors. Their technology includes AI-driven solutions for subsea operations, aimed at reducing operational costs and environmental impact.