Nauticus Robotics Secures $250 Mln Equity To Accelerate Deep-Sea Mineral Exploration, Stock Up

(RTTNews) - Nauticus Robotics, Inc. (KITT), an autonomous subsea robotics and software solutions, Monday announced that it has secured a $250 million Equity Line of Credit to support acquisitions and fuel its next growth phase.

With the money, Nauticus will be able to use its experience in robotics, artificial intelligence, and subsea automation to enter the nascent deep-sea rare earth and mineral exploration market.

According to CEO John Gibson, the facility is set to offer the freedom to pursue strategic acquisitions that promote vital mineral access and sustainable innovation.

The project supports U.S. priorities to fortify domestic supply chains for essential minerals and expands on Nauticus' recent acquisition of SeaTrepid International.

KITT is currently trading at $2.32, up $0.56 or 31.71 percent on the Nasdaq.