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Nauticus Robotics, Inc. (NASDAQ:KITT) reported that at a special meeting held on November 21, shareholders approved the issuance of common stock upon conversion of Series B Convertible Preferred Stock, as outlined in a Securities Purchase Agreement with ATW Special Situations II, LLC dated August 6. The approval was in accordance with Nasdaq Rule 5635, according to a statement released Tuesday based on a Securities and Exchange Commission filing.
Shareholders also voted in favor of a proposal allowing the meeting to be adjourned if additional time was needed to solicit votes.
A separate proposal to amend the company’s certificate of incorporation to increase the number of authorized shares of common stock from 625 million to 5 billion received a majority of votes cast in favor. However, it did not meet the required threshold of a majority of all issued and outstanding common stock and was not approved.
A total of 2,316,272 shares, representing 40.60% of outstanding common stock as of the September 22 record date, were present by proxy or in person.
For the preferred stock conversion proposal, 387,337 shares voted in favor, 175,040 against, and 137,705 abstained, with 1,616,190 broker non-votes recorded. The adjournment proposal received 1,789,885 votes in favor, 483,257 against, and 43,130 abstentions.
On the proposal to increase authorized shares, 1,547,241 shares voted in favor, 488,997 against, and 280,034 abstained.
Nauticus Robotics’ common stock and warrants are listed on The Nasdaq Stock Market LLC under the symbols KITT and KITTW, respectively.
All information is based on a statement released in a Securities and Exchange Commission filing.
In other recent news, Nauticus Robotics reported its third-quarter 2025 earnings, showing a net loss of $6.6 million. The company generated revenue of $1.9 million during the same period. Nauticus Robotics’ earnings per share (EPS) was recorded at -$2.6. Despite an improvement in its cash position, the financial results have raised concerns among investors. The company noted strategic revenue deferrals as part of its financial strategy. These developments are part of the recent updates regarding Nauticus Robotics’ financial performance.
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