Nauticus Robotics receives Nadaq delisting notification

Nauticus Robotics (KITT) received a Nasdaq delisting notification. On October 16, the company received a written notice from Nasdaq stating that the company was not in compliance with the requirement to maintain a minimum Market Value of Listed Securities of $35M. The Nasdaq notice has no immediate effect on the listing or trading of the company’s common stock. The company intends to timely request a hearing before the Nasdaq Hearings Panel, which will automatically pause any suspension or delisting action pending the hearing. The company’s common stock will continue to trade on The Nasdaq Capital Market under the symbol “KITT” at this time. The company is evaluating available options to regain compliance, which may include corporate or market-based actions and is preparing a plan to regain compliance.