Nauticus Robotics converts $3.7M debt into common equity, deleverages balance sheet.

Nauticus Robotics has entered into an agreement with debtholders to convert $3.7M of debt into common equity, aiming to substantially deleverage the balance sheet. If necessary, debtholders will exchange outstanding debt for preferred equity to bring the company in compliance with NASDAQ issues. This deal is part of the company's business model, which includes using robotic systems for service, selling vehicles and components, and licensing related technologies.