The adjustment, effective at 8:01 p.m. ET on September 24, will see every six shares of common stock combined into one. While the total number of outstanding shares will shrink, the ownership percentage for individual investors remains unchanged. Nauticus expects shares to resume trading on a post-split basis at the market open on September 25 under the existing ticker symbol KITT, though the stock will be assigned a new CUSIP number.

Management pursued this consolidation primarily to satisfy the minimum bid price mandate set by the Nasdaq exchange. By artificially inflating the share price, the company aims to improve its standing with institutional investors, many of whom maintain internal policies prohibiting the purchase of low-priced equities. Shareholders holding electronic book-entry positions face no manual requirements, while those with physical certificates will receive specific guidance from Continental Stock Transfer and Trust.