Nauticus Robotics (KITT) holder converts $1M loan to shares and sells stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
RCB Equities #1, LLC, a ten percent owner of Nauticus Robotics, Inc., converted $1,000,000 of principal under a Senior Secured Term Loan into 555,556 shares of common stock at $1.80 per share on June 1, 2026. It also sold 32,539 shares in an open-market transaction at $2.021 per share the same day, and held 782,829 shares of common stock afterward, up from approximately 259,812 shares before the conversion.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 32,539 shares ($65,761)
Net Sell
3 txns
Insider
RCB EQUITIES 1, LLC
Role
10% Owner
Sold
32,539 shs ($66K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | SENIOR SECURED TERM LOAN (09/23/2023, AS AMENDED) | -- | $1.80 | -- |
| Conversion | COMMON STOCK | 555,556 | $1.80 | $1.00M |
| Sale | COMMON STOCK | 32,539 | $2.021 | $66K |
Holdings After Transaction:
COMMON STOCK — 815,368 shares (Direct)
Footnotes (1)
- Immediately upon notice None Following the June 1, 2026 conversion of $1,000,000 of the Senior Secured Term Loan, the remaining outstanding balance of the term loan is subject to confirmation from the loan records. On June 1, 2026, RCB Equities #1, LLC converted $1,000,000 of the outstanding principal under the Senior Secured Term Loan Agreement dated September 18, 2023 (as amended by the Third Amendment dated June 1, 2026) into 555,556 shares of Common Stock at a conversion price of $1.80 per share. The conversion price of $1.80 per share was available for conversion notices delivered on or before June 15, 2026. Prior to this conversion, RCB Equities #1, LLC beneficially owned approximately 259,812 shares of Common Stock. On June 1, 2026, RCB Equities #1, LLC sold 32,539 shares of Common Stock in an open-market transaction at $2.021 per share.
Key Figures
Loan Principal Converted: $1,000,000
Shares Issued on Conversion: 555,556 shares
Conversion Price: $1.80 per share
+4 more
7 metrics
Loan Principal Converted
$1,000,000
Principal of Senior Secured Term Loan converted to common stock on June 1, 2026
Shares Issued on Conversion
555,556 shares
Common stock received by RCB Equities #1, LLC upon loan conversion
Conversion Price
$1.80 per share
Price used to convert Senior Secured Term Loan into common stock
Shares Sold
32,539 shares
Common stock sold in open-market transaction on June 1, 2026
Sale Price
$2.021 per share
Price received for shares sold in open-market transaction
Holdings After Transactions
782,829 shares
RCB Equities #1, LLC direct common stock holdings following June 1, 2026 activity
Prior Beneficial Holdings
259,812 shares
Approximate common stock beneficially owned before the loan conversion
Key Terms
Senior Secured Term Loan, conversion of derivative security, beneficially owned, open-market transaction
4 terms
Senior Secured Term Loan financial
"converted $1,000,000 of the outstanding principal under the Senior Secured Term Loan Agreement"
A senior secured term loan is a type of borrowing where a company borrows money and promises to pay it back over a fixed period, with the loan secured by the company's assets as collateral. Because it is "senior," it has priority over other debts if the company faces financial trouble, and being "secured" means lenders have a claim on specific assets. For investors, this makes the loan a safer and more predictable investment compared to unsecured or subordinate debts.
conversion of derivative security financial
"transaction_code_description": "Conversion of derivative security""
beneficially owned financial
"Prior to this conversion, RCB Equities #1, LLC beneficially owned approximately 259,812 shares"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
open-market transaction financial
"sold 32,539 shares of Common Stock in an open-market transaction at $2.021 per share"
An open-market transaction is a buy or sell of a company's shares or other securities conducted on a public exchange at the current market price, rather than through a private agreement. Investors watch these trades because they change the number of shares available and can move the price immediately—similar to how a large purchase at a busy store can raise demand and affect the checkout price—so such activity can signal market sentiment and alter ownership stakes.
FAQ
What insider activity did RCB Equities report for Nauticus Robotics (KITT)?
RCB Equities #1, LLC converted $1,000,000 of a Senior Secured Term Loan into 555,556 Nauticus Robotics common shares, then sold 32,539 shares in an open-market trade, ending with 782,829 shares held directly.
How did RCB Equities’ Nauticus Robotics (KITT) holdings change after these transactions?
Before the conversion, RCB Equities #1, LLC beneficially owned approximately 259,812 shares. After converting debt and selling shares, it reported holding 782,829 shares of Nauticus Robotics common stock directly.
What is the relationship between the converted loan and Nauticus Robotics (KITT) stock?
The Senior Secured Term Loan allowed conversion into Nauticus Robotics common stock. On June 1, 2026, $1,000,000 of outstanding principal was converted into 555,556 shares at a fixed $1.80 per-share conversion price.