Zinger Key Points
- Nauticus Robotics announces potential sale of up to $8.4M in common stock through H.C. Wainwright & Co.
- The company raises $5.4M in initial offering, with $2.93M still available for sale.
- Get New Picks of the Market's Top Stocks
Nauticus Robotics, Inc. KITT shares are trading higher Tuesday afternoon. The company announced it may now offer and sell shares of its common stock valued at up to $8.4 million through H.C. Wainwright & Co., LLC.
What To Know: Under the The Market Offering Agreement, Nauticus Robotics has already sold 32,406,957 shares between May 20 and June 10 2024, raising gross proceeds of approximately $5.4 million. With the recent surge in stock price, the company has the potential to offer and sell additional shares worth about $2.93 million.
The net proceeds from this offering are intended for working capital and general corporate purposes.
KITT Price Action: Nauticus Robotics shares were up 20% at 28 cents at the time of writing, according to Benzinga Pro.
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