Nauticus Robotics, Inc. (KITT) Form 8-K — Sep 29, 2026
Nauticus Robotics received an executed waiver on September 23, 2026 from a holder of its Series C Convertible Preferred Stock, waiving the Triggering Event that would have occurred because preferred shares remain outstanding past September 30, 2026. The waiver avoids an increase in the dividend rate to 18% per annum and eliminates the Triggering Event Conversion with its 125% multiplier through December 31, 2027.
Key figures
- Waiver period end
- 2027-12-31
- Default dividend rate
- 18% per annum
- Triggering event date
- 2026-09-30
- Existing conversion calculation
- 120%
- Triggering event conversion multiplier
- 125% (25% premium) - waived
AI analysis
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