Nauticus Robotics, Inc. announced that it expects to receive $20 million in funding from Material Impact Management, LLC, Transocean Ltd., ATW Partners LLC and others
September 20, 2023
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Nauticus Robotics, Inc. announced that it has entered into a senior secured term loan agreement for the gross proceeds of $20 million on September 21, 2023. The transaction will include participation from returning investor, Material Impact Management, LLC, Transocean Ltd., ATW Partners LLC and RCB Equities. The Loans are convertible at $6.00 per share of common stock, subject to certain customary anti-dilution adjustments as described in the term loan agreement. he 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.
On the same date, the company has raised $11.6 million in its first tranche closing.
Nauticus Robotics, Inc. develops autonomous robots for the ocean industries. Its business model includes using robotic systems for service, selling vehicles and components, and licensing of related software to both the commercial and defense business sectors. It has designed and is testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure. It also develops a range of technology products for retrofit/upgrading traditional ROV operations and other third-party vehicle platforms. Its services provide customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure. It focuses on its four main products: Autonomous Solutions, Government Solutions, Olympic Arms and toolKITT software.
Nauticus Robotics, Inc. announced that it expects to receive $20 million in funding from Material Impact Management, LLC, Transocean Ltd., ATW Partners LLC and others
NAUTICUS ROBOTICS, INC. 
