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The latest announcement is out from Nauticus Robotics ( (KITT) ).
Nauticus Robotics, Inc. has entered into agreements to convert $33 million of debt into equity through a preferred stock exchange, aiming to ease its balance sheet and address NASDAQ compliance issues. This strategic move involves exchanging existing debentures for a new class of convertible preferred stock. Nauticus, a leader in autonomous subsea robotics, focuses on developing technology for ocean industries, enhancing operational efficiency and reducing environmental impact.
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