Nauticus Robotics Obtains Waiver Deferring Preferred Stock Triggering Event to March 2027

Nauticus Robotics, Inc. (KITT) has entered into a material agreement by receiving waivers from a holder of its Series B and Series C Convertible Preferred Stock. The waivers prevent a "Triggering Event" that was set to occur on September 30, 2026, providing the company with temporary relief from significant penalty clauses.

Key Details

• Waiver Period: The agreement waives the Triggering Event from September 30, 2026, through March 31, 2027.
• Penalties Avoided: During the waiver period, the company avoids an increase in the dividend rate to a default rate of 18% per annum and a 25% conversion premium (125% multiplier) on the conversion amount.
• Future Terms: If the preferred stock remains outstanding after the waiver period expires on March 31, 2027, the Triggering Event and its associated consequences will apply prospectively.