Nauticus Robotics announced on January 3, 2025, that it has reduced the conversion price of its Senior Secured Term Loans to $1.59 per share, reflecting the company's recent reverse stock split. This new price matches the company's common stock closing price on January 2, 2025.The adjustment was made under Section 5(d) of the Loan Agreement, which allows for voluntary conversion price reductions with prior written consent from Required Lenders. The original conversion terms were established under the Senior Secured Term Loan Agreement dated January 30, 2024, with ATW Special Situations Management LLC serving as collateral agent.The loan conversion remains subject to a 4.99% beneficial ownership limitation for most lenders, with one exception. This modification to the conversion terms provides lenders with updated parameters for potentially converting their loans into company shares.

Nauticus Robotics announced on January 3, 2025, that it has reduced the conversion price of its Senior Secured Term Loans to $1.59 per share, reflecting the company's recent reverse stock split. This new price matches the company's common stock closing price on January 2, 2025.The adjustment was made under Section 5(d) of the Loan Agreement, which allows for voluntary conversion price reductions with prior written consent from Required Lenders. The original conversion terms were established under the Senior Secured Term Loan Agreement dated January 30, 2024, with ATW Special Situations Management LLC serving as collateral agent.The loan conversion remains subject to a 4.99% beneficial ownership limitation for most lenders, with one exception. This modification to the conversion terms provides lenders with updated parameters for potentially converting their loans into company shares.