Nauticus Robotics has completed a series of exchange transactions with institutional investors, converting outstanding 5% senior secured convertible debentures into Series A preferred convertible stock. On December 27, 2024, the company issued 27,588 shares of Series A Preferred Stock to one institutional investor, followed by additional issuances of 2,504 and 5,342 shares to two other investors on December 31, 2024.The Series A Preferred Stock is convertible into common stock, subject to a 9.9% beneficial ownership cap of the company's outstanding common stock for most investors. The exchange transactions were conducted under Section 3(a)(9) of the Securities Act and Regulation D exemptions, requiring stockholder approval pursuant to Nasdaq rule 5635 for conversion.

Nauticus Robotics has completed a series of exchange transactions with institutional investors, converting outstanding 5% senior secured convertible debentures into Series A preferred convertible stock. On December 27, 2024, the company issued 27,588 shares of Series A Preferred Stock to one institutional investor, followed by additional issuances of 2,504 and 5,342 shares to two other investors on December 31, 2024.The Series A Preferred Stock is convertible into common stock, subject to a 9.9% beneficial ownership cap of the company's outstanding common stock for most investors. The exchange transactions were conducted under Section 3(a)(9) of the Securities Act and Regulation D exemptions, requiring stockholder approval pursuant to Nasdaq rule 5635 for conversion.