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Stock impact report

Nauticus Robotics Announces Results for the Third Quarter of 2024 [Yahoo! Finance]

Nauticus Robotics, Inc. - Common stock (KITT) 
Company Research Source: Yahoo! Finance
John Gibson , Nauticus CEO, stated, "We committed to producing commercial revenue in the third quarter of 2024 with our Aquanaut Mark 2. We achieved that objective. Our first commercial project not only exceeded customer expectations but also secured additional work for the fourth quarter. With the 2024 work season in the Gulf of Mexico ending, we are now fully focused on building a robust pipeline of commercial opportunities for 2025. Nauticus' untethered, autonomous deepwater solutions have set us apart as the technical leader in this field, earning strong recognition from our customers. On the financial front, we raised over $1 million in cash through a tranche of convertible debentures, with the option to access an additional $20 million . Alongside converting existing debentures into preferred equity, these steps bolster our shareholder equity and position us to regain compliance with NASDAQ listing requirements. This access to additional funds provides a solid financial found Show less Read more
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