Nauticus Robotics Cuts Term Loan Conversion Price to $1.488 for Two-Day Window
KITT is trading near its 52-week low of $1.551 (3.2% above the low).
Summary
Nauticus Robotics reduced its term loan conversion price to $1.488 for a two-day window ending October 2, 2026, with a 10% daily trading volume cap on conversion share sales.
Key Events · Financing and Capital Events · KITT
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Conversion Price Cut to $1.488
Sixth Amendment to the term loan agreement reduces the conversion price to $1.488 for the period September 30 to October 2, 2026, below the current $1.60 market price.
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Dilution Overhang
Lenders can convert debt into common stock at $1.488, creating immediate dilution pressure on existing shareholders.
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Trading Volume Cap
Lenders agree not to sell conversion shares exceeding 10% of the 10-day average daily trading volume on any given day through October 2, 2026.
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Sixth Amendment in Series
This is the sixth temporary conversion price reduction since October 2025, following prior cuts to $1.76, $2.20, and $1.80, reflecting ongoing debt management under financial distress.
Analysis · KITT · Technology
Nauticus Robotics has again lowered the conversion price on its senior secured term loan, this time to $1.488 for a two-day window ending October 2, 2026. The move lets lenders convert debt into common stock at a price just below the current $1.60 market price, creating immediate dilution pressure. A 10% daily trading volume cap on conversion share sales limits the near-term overhang, but the pattern of repeated temporary price cuts — this is the sixth amendment — shows the company is using conversion incentives to manage its debt load while cash remains critically low at $1.4 million and going concern doubts persist.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.9% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, KITT was trading at $1.60 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.5M. The 52-week trading range was $1.55 to $175.20. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.