Summary by Moomoo AI
Nauticus Robotics has finalized the exchange of its remaining 5% original issue discount senior secured convertible debentures for Series A preferred convertible stock, as previously announced. The transaction, completed on December 27 and 31, 2024, involved three institutional investors.The company issued a total of 35,434 shares of Series A Preferred Stock: 27,588 shares to one investor on December 27, and 2,504 and 5,342 shares to two other investors on December 31. These preferred shares are convertible into common stock, subject to a 9.9% beneficial ownership cap and Nasdaq stockholder approval requirements.The exchange was executed under the exemptions from registration provided by Section 3(a)(9) of the Securities Act and Regulation D. This transaction modifies the rights of security holders and amends the company's articles of incorporation, potentially impacting Nauticus Robotics' capital structure and investor relations.
