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Company also converts $3.7 million of debt into common equity.
Nauticus Robotics, Inc. (KITT) has initiated a deep-sea rare earth strategy and secured a $250 million equity line of credit. The company has also converted $3.7 million of its existing debt into common equity.
The $250 million equity line of credit provides the company with additional financial flexibility. The conversion of $3.7 million in debt to equity helps to strengthen the company's balance sheet.
Nauticus Robotics has a free float of 11,017,800 shares and 5,703,700 shares outstanding.
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