Nauticus Robotics Secures Waiver of Series C Triggering Event Through 2027
KITT is trading near its 52-week low of $1.73 (4.0% above the low) on elevated volume (2.9× avg).
Summary
A Series C Preferred holder waived the September 30, 2026 Triggering Event through December 31, 2027, avoiding an 18% default dividend and a 25% conversion premium. The waiver is limited to the signing holder.
Key Events · Financing and Capital Events · KITT
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Series C Triggering Event Waived
A Series C Preferred holder waived the September 30, 2026 Triggering Event, effective September 23, 2026, through December 31, 2027.
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Default Dividend and Conversion Premium Avoided
The waiver removes the 18% default dividend rate and the 125% Triggering Event Conversion multiplier (a 25% premium) during the Waiver Period.
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Existing Conversion Terms Preserved
The existing 120% Conversion Amount calculation, ordinary conversion rights, and Alternate Optional Conversion rights remain in effect.
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Waiver Limited to One Holder
The waiver applies only to the signing holder and does not bind other Series C Preferred holders or other preferred stock series.
Analysis · KITT · Technology
The Series C Preferred Stock carried a Triggering Event that would have activated on September 30, 2026 if any shares remained outstanding — triggering an 18% default dividend rate, a 125% conversion multiplier (a 25% premium), and other penalties. A holder has now waived that trigger through December 31, 2027. This removes a near-term financial overhang and gives the company breathing room to pursue its recently announced $50 million strategic investment without facing immediate punitive conversion terms. The waiver is limited to one holder and does not bind other preferred holders, so the risk is reduced but not eliminated.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. 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 $1.80 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.8M. The 52-week trading range was $1.73 to $175.20. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.