India, Sept. 23 -- On Wednesday, Nauticus Robotics Inc. (KITT) announced the commencement of a 1-for-6 reverse stock split of its outstanding shares of common stock following approval by its Board of Directors and stockholders.
The reverse stock split will reduce the number of Nauticus' common shares, which is expected to proportionally increase the share price. The main goal is to raise the share price enough to meet Nasdaq Capital Market's minimum bid price requirement.
Under the reverse stock split, every 6 shares of Nauticus common stock will be combined into 1 share.
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The reverse stock split is expected to take effect on September 24, 2026. Nauticus...