Nauticus Robotics Rises 23% On $250 Mln Equity Line And Debt Conversion
(RTTNews) - Nauticus Robotics, Inc. (KITT) rose 23.36% to $2.17, gaining $0.41, after announcing a $250 million equity line of credit to support growth and a $3.7 million debt-to-equity conversion to strengthen its balance sheet.
The company said the equity facility will help finance strategic initiatives, including expansion into deep-sea rare-earth mineral exploration using its advanced autonomous subsea robotics. The debt conversion also positions Nauticus to meet NASDAQ compliance and enhance long-term financial stability.
KITT opened at $1.78, reached a high of $2.25, and a low of $1.72, compared to a previous close of $1.76 on the NasdaqCM. Trading volume spiked sharply above average. The stock's 52-week range is $0.45 - $3.10.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.