Summary by Moomoo AI
Nauticus Robotics has updated its at-market offering agreement with H.C. Wainwright & Co., allowing the sale of up to $6,646,516 in common stock. From May to January, the company sold 1,406,424 shares (post-reverse split) for gross proceeds of $9.9 million and net proceeds of $9.4 million.As of January 6, 2025, shares with an aggregate offering price of $6.6 million remain available for sale. The stock will be sold at market prices through Wainwright as agent or principal, with a 3% commission. Nauticus intends to use the net proceeds for working capital and general corporate purposes.The offering highlights Nauticus' financial challenges as an early-stage company with limited sales history. The company warns of substantial doubt about its ability to continue as a going concern, citing the need for additional capital to fund operations and product development. Nauticus cautions investors about potential dilution and risks associated with its business.