CleanTech Acquisition in an 8-K filing announced its shareholders voted in favor of merging with Nauticus Robotics. The vote was overwhelmingly in support of the deal, with 4.5 million shres voted in favor and 5,456 against.
The SPAC also disclosed that 361,986 shares were redeemed in connection with the merger vote. To date, nearly 92% of the SPAC’s trust has been wiped out by redemptions, including those prior to a deadline extension vote this past summer.
Cleantech had raised $172.5 million in a July 2021 IPO.
The SPAC also brought to the table a $73 million fully-committed PIPE anchored by existing investors. Proceeds from the PIPE were sufficient to cover the $50 million minimum cash requirement for closing the transaction, the companies had said.
Once the deal closes, Nauticus is expected to trade on the Nasdaq under KITT.
Nauticus Robotics is a Houston-based developer of cloud-based surface and subsea robots and software. Read more.
