Loaning money To "Nauticus" ticker KITT
"All obligations under the Loans are secured by a first priority lien on substantially all assets of the Company. The outstanding principal amount of the Loans under the Term Loan Agreement will bear interest at the rate of 12.50% per annum, payable quarterly in arrears on the first day of each calendar quarter commencing April 1, 2024. The Loans are coterminous with the Company's existing convertible debt (the “Debentures”), which now holds a second lien position, as disclosed in the Amendment to Securities Purchase Agreement, Senior Secured Convertible Debentures and Pledge and Security Agreement."
Nauticus Robotics, Inc. is a developer of ocean robots, autonomy software, and services delivered to the marine industries. It offers autonomous robots using artificial intelligence for data collection and intervention services for the ocean industries. The Company’s autonomous robots use artificial intelligence for data collection and intervention services for the ocean industries. Its services provide customers with the necessary data collection, analytics, and subsea manipulation capabilities. The Company’s product platforms include ToolKITT, Aquanaut, Hydronaut, and. ToolKITT is a cloud software platform consisting of interrelated products for ocean sensing, manipulation, autonomous behaviors, survey, search and recovery, and manual intervention. It develops a portfolio of ocean robotic vehicles and manipulators controlled by its multi-layered software suite. This software provides sensed perception of the environment combined with guidance, navigation, and control of the vehicle."
