Nauticus Robotics (KITT) has entered into a Fourth Amendment to its Senior Secured Term Loan Agreement, temporarily reducing the conversion price of its outstanding loans for lenders. This short-term modification is designed to facilitate the conversion of debt into common stock at a more favorable rate.
Key Details
- Agreement: The Fourth Amendment to the Senior Secured Term Loan Agreement was executed on August 12, 2026.
- Terms: The conversion price for the company's loans has been reduced to $1.80 per share.
- Timeline: The reduced conversion price is only effective for a two-day period, from August 12, 2026, through August 13, 2026.