We’re thrilled to share that our co-founder, Vicky Hay, will be serving at the Interim CFO of Nauticus Robotics. This is the result of Nauticus securing an investment before the end of 2023, and ability to eliminate many of the dilutive warrants and ratchet provisions from de-SPAC financing.
This new investment represents the first part of Nauticus’ financing journey, and is led by existing investors, demonstrating their ongoing support for their company. Nauticus is currently in discussions for a second tranche of investment that aims to provide funding for the upcoming year.
This investment is a crucial step in several strategic initiatives undertaken by the Board of Directors to optimize operations and enhance financial stability in both the short and long term.
Vicky will help Nauticus focus on converting intellectual property, including both patents and trade secrets, into differentiated solutions that bring significant value to both commercial and government customers. Through this process, Nauticus will be shifting from prototypes to creating reliable solutions for the blue economy.
Vicky holds a wealth of experience as a contracted CFO for several smaller private startups and was previously the Senior Director of Global Accounting and Reporting Services at Weatherford International plc.
She will ensure Nauticus’ immediate goals are met. The goals involve collaborating with oil and gas producers to enhance subsea inspections and expanding into maintenance and repair using the next generation of Aquanaut autonomous undersea robots. There is anticipated offshore certification for our new Aquanaut Mk2 vehicle starting in early 2024 and subsequently transitioning to contracted operations at a deepwater field for a major oil and gas producer.
To support strategic initiatives and financing efforts, the Board of Directors has engaged Piper Sandler & Co. as their investment banking advisor. Their expertise will help navigate financing endeavors and evaluate other strategic opportunities, including the potential merger with 3D at Depth.