Nauticus Robotics, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Notes Payable (Tables)

Notes Payable (Tables)

9 Months Ended

Sep. 30, 2024

Notes payable consisted of the following:


	September 30, 2024		December 31, 2023
	(As Restated)
Convertible secured debentures	$	-	$	36,530,320
New convertible debentures (fair value)	53,222,499		-
Accrued interest recognized on debenture
Convertible senior secured term loan	27,527,485		12,295,000
Total	80,749,984		48,825,320
Less: debt discount, net	-		(16,593,357)
Less: capitalized debt issuance costs	(1,462,013)		(661,922)
Senior bridge note exit fee provision	100,666		27,608

Total notes payable – long-term	$	79,388,637	$	31,597,649

New convertible debentures (principal amount)	$	30,911,089	$	-

Schedule of Long-Term Debt Instruments

Interest expense includes the following relating to the 2023 Term Loan, the December 2023 Incremental Loan, the January 2024 Incremental Loan, 2024 Loans and the May 2024 Incremental Loan (collectively the "convertible senior term loans"):


	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Debt discount amortization	$	10,074	$	8,473	$	29,942	$	8,473
Amortization of debt issuance costs	174,318		-		486,758		-
Provision for bridge note exit fee	24,583		3,183		73,058		3,183

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details