Nauticus Robotics shares choppy after de-SPAC
13/09/2022 18:41
** Shares of ocean robots developer Nauticus Robotics Inc
KITT.O trade in wide range in debut on Tues
** Co begins trading under ticker "KITT" after closing
merger with special-purpose acquisition company CleanTech
Acquisition Corp (CLAQ) urn:newsml:reuters.com:*:nGNX6sCXG
** KITT jumps as much as 61.6% to $9.05 in midday trade,
after diving as low as $4.34
** Shares last up 12.5% at $6.30 amid broader market
weakness
** Houston-based firm in Dec agreed to go public in ~$561
mln SPAC deal urn:newsml:reuters.com:*:nFWN2T20KH urn:newsml:reuters.com:*:nGNX9CSbVR
** Deal was to provide Nauticus $222 mln, including $73 mln
PIPE (private investment in public equity) consisting of equity
and convertible notes anchored by Schlumberger SLB.N ,
Transocean RIGN.S and AeroVironment AVAV.O
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))