Nauticus Robotics Signs LOI for Strategic Investment of Up to $50 Million

Nauticus Robotics, Inc. (NASDAQ: KITT) has entered into a non-binding letter of intent with a strategic investor contemplating a private placement equity investment of up to $50 million in the autonomous subsea robotics enterprise.

The proposed investment is intended to support Nauticus' short- and long-term commercial objectives. The company's Board of Directors is evaluating the potential transaction consistent with its fiduciary duties and is considering engaging an independent financial advisor to assist with the review.

Nauticus emphasized that the LOI terms are non-binding and do not obligate the strategic investor to provide funding. Completion remains subject to due diligence, negotiation and execution of definitive agreements, applicable approvals, and satisfaction of closing conditions.

Depending on the final terms, the proposed investment could result in dilution for existing Nauticus stockholders and potentially a change of control. The company stated there is no assurance that definitive agreements will be executed or that the transaction will close.

Houston-based Nauticus develops autonomous robotic systems for ocean industries, combining advanced sensors, artificial intelligence, and perception algorithms for dynamic subsea environments.

Its business model includes providing robotic systems as a service, selling vehicles and components, and licensing related software for commercial and defense customers. Nauticus is currently testing a new generation of subsea vehicles designed to reduce operational costs and collect critical infrastructure data.

The company's technology portfolio additionally includes products designed to retrofit or upgrade traditional remotely operated vehicle operations and third-party vehicle platforms.

Nauticus will provide additional information regarding the proposed strategic investment as appropriate and in accordance with applicable disclosure requirements.