Nauticus Robotics, Inc. acquires 3D at Depth, Inc.

Winston & Strawn represented Nauticus Robotics, Inc., a developer of autonomous vehicles and robots for data collection and intervention services for offshore industries, in connection with the announced acquisition of 3D at Depth, Inc. a global leader in commercial subsea laser LiDAR (Light Detection and Range) inspection and data services, for approximately US$34M in stock, before certain purchase price adjustments and the assumption of debt. Under the terms and subject to the conditions of the acquisition agreement, 3D security holders will receive approximately 9.9326 shares of Nauticus common stock for each share of 3D common stock equivalent they own, for an aggregate equity value of approximately US$34M, before purchase price adjustments. Nauticus will also assume approximately US$4.1M of debt in the transaction. The transaction is expected to close during the fourth quarter of 2023. Upon closing of the transaction, 3D will operate as a division of Nauticus.