Nauticus Robotics Eliminates $4M Debt

Nauticus Robotics Eliminates $4m Debt

Houston-based Nauticus Robotics has strengthened its balance sheet through a debt-for-equity exchange that eliminates approximately $4 million in outstanding debt while increasing shareholders' equity.The company announced June 30 that an existing lender agreed to convert approximately $4.0 million in outstanding indebtedness and accrued interest under Nauticus' Senior Secured Term Loan Agreement into 4,800 shares of the company's Series C Convertible Preferred Stock. The transaction is part of the company's ongoing effort to improve its capital structure and financial position.According to Nauticus, the exchange removes roughly $4 million in debt from its balance sheet and is expected to support the company's continued compliance with Nasdaq's stockholders' equity listing requirements.The move follows several initiatives by the autonomous subsea robotics developer to strengthen its financial position while expanding commercial deployments and international operations. Earlier this year, the company reported increasing customer engagement and continued commercialization of its autonomous subsea technologies, including expansion into the Middle East and broader Gulf region.Nauticus develops autonomous robotic systems, software and related technologies for commercial offshore and defense applications. Its business includes robotics-as-a-service, vehicle and component sales, and software licensing. The company is also advancing next-generation autonomous subsea vehicles while offering retrofit technologies designed to enhance conventional remotely operated vehicles (ROVs) and third-party platforms, with the goal of reducing offshore operating costs, improving safety, and lowering greenhouse gas emissions.