Nauticus Robotics Signs LOI for Up to $50m Investment

Nauticus Robotics, Inc., a developer of autonomous subsea robotic systems and autonomy software, announced that it has entered into a non-binding letter of intent ("LOI") with a strategic investor contemplating a private placement equity investment of up to $50 million in the Company in support of the Company's short and long term commercial objectives.

The Company's Board of Directors is evaluating the proposed material transaction consistent with its fiduciary duties and is considering the engagement of an independent financial advisor to assist the Board in its evaluation.

The investment terms of the LOI are non-binding, do not obligate the investor to provide funding and remains subject to, among other matters, due diligence, negotiation and execution of definitive agreements, applicable approvals and satisfaction of any closing conditions. Depending on the final terms, the investment could result in dilution to existing stockholders and/or a change of control of the Company. There can be no assurance that definitive agreements will be entered into or that the proposed transaction will be completed on the terms currently contemplated, or at all.

Nauticus intends to provide additional information regarding the proposed transaction as appropriate and in accordance with applicable disclosure requirements.