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Nauticus Robotics, Inc. (NASDAQ:KITT) filed a report Friday stating that it has included a legal opinion from Norton Rose Fulbright US LLP as an exhibit to its latest SEC filing. According to the press release statement, the opinion relates to an at-the-market offering previously disclosed in a Form 8-K filed on May 20, 2024. The company, currently valued at $22.5 million in market capitalization, has been facing significant financial challenges with a debt burden of $31 million and a concerning cash burn rate, according to InvestingPro data.
The filing lists the opinion as Exhibit 5.1 and also includes a consent from Norton Rose Fulbright US LLP as Exhibit 23.1. No additional financial statements or new business developments were disclosed in this filing. The stock has experienced significant volatility, declining over 65% year-to-date, though InvestingPro analysis suggests the stock may be undervalued at current levels.
Nauticus Robotics’ common stock and warrants continue to be listed on The Nasdaq Stock Market LLC under the symbols KITT and KITTW, respectively.
This information is based on a statement included in the company’s SEC filing.
In other recent news, Nauticus Robotics reported its Q2 2025 earnings, showcasing significant revenue growth with a total of $2.1 million, a notable increase from the previous year. Despite this revenue growth, the company faced a net loss of $7.4 million. Nauticus Robotics has also announced a 1-for-9 reverse stock split to comply with Nasdaq Capital Market’s share bid price requirements. This move was approved by the company’s Board of Directors and stockholders. Additionally, Nauticus Robotics’ Aquanaut Mark 2 underwater vehicle reached a record depth of 2,300 meters during testing off the coast of Louisiana. In a further development, the company amended its bylaws to lower the quorum requirement for shareholder meetings to one-third of the voting power. These recent developments reflect Nauticus Robotics’ ongoing strategic efforts and operational advancements.
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