Nauticus Robotics entered into an Exchange Agreement with an institutional investor to convert portions of its secured convertible term loans into Series C Convertible Preferred Stock. On June 26, 2026, the company closed an initial exchange of approximately $4.0 million of indebtedness (including accrued interest and other amounts) for 4,800 Series C Preferred shares with an aggregate stated value of about $4.8 million. The agreement also allows the investor to require additional exchanges of remaining indebtedness during the term. The transaction was completed under the Securities Act Section 3(a)(9) exemption.
Agreement details:
- Agreement type: Exchange Agreement to convert secured convertible term loans into Series C Convertible Preferred Stock
- Counterparty: Institutional investor
- Signed / Effective: Jun 26 2026 / same
- Duration / Termination: At will
- Reason: Reduce debt and enhance capital structure
Original SEC Filing:
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