Nauticus Robotics Faces Nasdaq Delisting Warning

TL;DR

Nauticus Robotics is at risk of being delisted from Nasdaq due to low stock price, needs to hit $1 by Feb 10 to avoid it.

AI Summary

Nauticus Robotics, Inc. received a notification from the Nasdaq Stock Market on August 14, 2024, indicating that the company is not in compliance with the minimum bid price requirement for continued listing. The company has 180 calendar days, until February 10, 2025, to regain compliance by achieving a closing bid price of $1.00 or more for a minimum of 10 consecutive business days.

Why It Matters

Failure to meet the minimum bid price could lead to delisting from the Nasdaq, significantly impacting the stock's liquidity and investor confidence.

Risk Assessment

Risk Level: high — The company is currently non-compliant with a critical Nasdaq listing rule, facing a strict deadline to rectify the situation.

Key Numbers

• 180 — Days to regain compliance (The company has this many calendar days to meet the minimum bid price requirement.)
• $1.00 — Minimum bid price (The stock must close at or above this price for 10 consecutive business days to regain compliance.)

Key Players & Entities

• Nauticus Robotics, Inc. (company) — Registrant
• Nasdaq Stock Market (company) — Listing Exchange
• August 14, 2024 (date) — Notification Date
• February 10, 2025 (date) — Compliance Deadline
• $1.00 (dollar_amount) — Minimum Bid Price Requirement

FAQ

Key Financial Figures

• $35 million — ot regained compliance with the minimum $35 million market value of listed securities requi

Filing Documents

• kitt-20240814.htm (8-K) — 25KB
• 0001849820-24-000214.txt ( ) — 195KB
• kitt-20240814.xsd (EX-101.SCH) — 2KB
• kitt-20240814_def.xml (EX-101.DEF) — 17KB
• kitt-20240814_lab.xml (EX-101.LAB) — 29KB
• kitt-20240814_pre.xml (EX-101.PRE) — 17KB
• kitt-20240814_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On August 14, 2024, the Company received an additional staff determination letter (the "Letter") from the staff of the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it has not regained compliance with the minimum $35 million market value of listed securities requirement for continued listing on The Nasdaq Capital Market as set forth in Listing Rule 5550(b)(2) (the "MVLS Requirement"), and that the additional delinquency may serve as a separate basis for the delisting of the Company's securities from Nasdaq. As previously reported, on February 15, 2024, the Company was notified by the Staff that for the previous 32 consecutive trading days the Market Value of Listed Securities (MVLS) had been below the minimum of $35 million required. Therefore, in accordance with Listing Rule 5810(c)(3)(C), the Company was provided 180 calendar days, or until August 13, 2024, to regain compliance with the MVLS Requirement. Accordingly, and as described in the Letter, unless the Company timely requests a hearing before a Hearings Panel (the "Panel"), the Company's securities would be subject to suspension/delisting. Accordingly, the Company has timely requested a hearing before the Panel. The hearing request automatically stays any suspension or delisting action pending the hearing and the expiration of any additional extension period granted by the Panel following the hearing. There can be no assurance that the Panel will grant the Company an additional extension period or that the Company will ultimately regain compliance with all applicable requirements for continued listing on The Nasdaq Capital Market. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized

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View this 8-K filing on SEC EDGAR