Summary by Moomoo AI
On January 3, 2025, Nauticus Robotics reduced the conversion price of its outstanding loans to $1.59 per share, reflecting the closing price of its common stock on January 2, 2025. This adjustment comes after the company's reverse stock split and is subject to Nasdaq rules and lender consent.The conversion price reduction is pursuant to the Senior Secured Term Loan Agreement dated January 30, 2024. The agreement allows for voluntary reduction of the conversion price with prior written consent from required lenders. Conversion remains subject to a 4.99% beneficial ownership limitation for most lenders.This move potentially allows for greater conversion of debt to equity, which could impact the company's capital structure and outstanding share count. Investors should note that this change may affect the dilution potential of the convertible loans.
