HOUSTON, July 18, 2024 /PRNewswire/ -- Nauticus Robotics, Inc. ("Nauticus" or the "Company") (NASDAQ:KITT) today announced that it will proceed with a 1-for-36 reverse stock split ("Reverse Split") of its outstanding shares of common stock (the "Common Stock") following approval by its Board of Directors. This ratio is within the range approved by stockholders at the annual meeting of the Company's shareholders held on June 17, 2024.  Key Information About the Reverse Split What is a Reverse Split? A reverse stock split is a corporate action that reduces the number of outstanding shares and proportionately increases the share price. In this case, Nauticus is implementing a 1-for-36 reverse stock split, meaning that every 36 shares of our common stock will be consolidated into one share. Why is Nauticus enacting the Reverse Split? By reducing the number of shares, the per-share stock price of Nauticus' common stock should increase proportionally. The primary objective of the Reverse Split is to increase the share price to comply with the minimum bid price required by The Nasdaq Capital Market.  A higher share price can also make the stock more attractive to a broader range of investors, including institutional investors who may have minimum price thresholds for investments. How will the Reverse Split affect current investors? Every 36 shares of Nauticus common stock held by shareholders will be automatically combined into one share.  Fractional shares will be rounded up ...