Nauticus Robotics announced that it secured an investment before the close of 2023 and eliminated many of the dilutive warrants and ratchet provisions of the original de-SPAC financing in the process. The new investment is the first tranche of financing led by existing investors. Nauticus anticipates executing a second tranche of investment, discussions for which are ongoing and aimed at providing funding for the year. This includes the engagement of a new executive management team, culminating in the promotion of John Gibson Jr. to interim CEO on January 4, 2024.
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