Nauticus Robotics Debtholders Agree to Exchange $33M of Debt to Equity

Core Viewpoint - Nauticus Robotics, Inc. has entered into an agreement to convert $33 million of debt into equity through a preferred stock exchange, aiming to significantly reduce its leverage and resolve NASDAQ compliance issues [1] Company Overview - Nauticus Robotics, Inc. specializes in developing autonomous robots for ocean industries, utilizing sensors, artificial intelligence, and algorithms for adaptability in changing environments [2] - The company's business model includes providing robotic systems for services, selling vehicles and components, and licensing software to both commercial and defense sectors [2] - Nauticus is testing a new generation of vehicles designed to lower operational costs and gather data for maintaining various subsea infrastructures [2] - The company also offers technology products for retrofitting traditional ROV operations and third-party vehicle platforms, enhancing data collection, analytics, and subsea manipulation capabilities [2] - Nauticus aims to reduce operational footprints, costs, and greenhouse gas emissions while improving offshore health, safety, and environmental exposure [2]