<SEC-DOCUMENT>0001213900-23-059025.txt : 20230724
<SEC-HEADER>0001213900-23-059025.hdr.sgml : 20230724
<ACCEPTANCE-DATETIME>20230724080815
ACCESSION NUMBER:		0001213900-23-059025
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230724
DATE AS OF CHANGE:		20230724

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nauticus Robotics, Inc.
		CENTRAL INDEX KEY:			0001849820
		STANDARD INDUSTRIAL CLASSIFICATION:	GENERAL INDUSTRIAL MACHINERY & EQUIPMENT, NEC [3569]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-267375
		FILM NUMBER:		231103788

	BUSINESS ADDRESS:	
		STREET 1:		17146 FEATHERCRAFT LANE
		STREET 2:		SUITE 450
		CITY:			WEBSTER
		STATE:			TX
		ZIP:			77598
		BUSINESS PHONE:		281-942-9069

	MAIL ADDRESS:	
		STREET 1:		17146 FEATHERCRAFT LANE
		STREET 2:		SUITE 450
		CITY:			WEBSTER
		STATE:			TX
		ZIP:			77598

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	cleantech Acquisition Corp.
		DATE OF NAME CHANGE:	20210308
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>ea182169-424b3_nauticus.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule 424(b)(3)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-267375</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PROSPECTUS SUPPLEMENT NO. 5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(to prospectus dated April 18, 2023)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NAUTICUS ROBOTICS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>8,275,000 Shares of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to 8,625,000 Shares of Common Stock Underlying
Public Warrants to Purchase Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to 7,175,000 Shares of Common Stock Underlying
Private Warrants to Purchase Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to 2,922,425 Shares of Common Stock Underlying
Securities Purchase Agreement Warrants to Purchase Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to 2,922,425 Shares of Common Stock Underlying
Convertible Debentures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus supplement
is being filed to update and supplement the information contained in the prospectus dated April 18, 2023 (the &ldquo;Prospectus&rdquo;),
with the information contained in our Current Report on Form 8-K filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
on June 23, 2023 (the &ldquo;Current Report&rdquo;). Accordingly, we have attached the Current Report to this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Prospectus and this prospectus
supplement relate to the offer and sale by us of (i) 862,500 shares of common stock, par value $0.0001 per share (&ldquo;Common Stock&rdquo;),
of Nauticus Robotics, Inc. (the &ldquo;Company&rdquo;) which were issued upon the conversion of the rights to receive one twentieth (1/20)
of one share of Common Stock (the &ldquo;Right Shares&rdquo;) in connection with the closing of the Business Combination (defined below),
(2) 8,625,000 shares of Common Stock (the &ldquo;Public Warrant Shares&rdquo;) issuable upon the exercise of 8,625,000 redeemable warrants,
which are exercisable at a price of $11.50 per share (the &ldquo;Public Warrants&rdquo;) and (3) 7,175,000 shares of Common Stock (the
&ldquo;Private Warrant Shares&rdquo;) issuable upon the exercise of 7,175,000 redeemable warrants, purchased by CleanTech Sponsor I LLC
and CleanTech Investments, LLC (together, the &ldquo;Co-sponsors&rdquo;) at a price of $1.00 per Private Warrant pursuant to a subscription
agreement entered into in connection with CLAQ&rsquo;s (defined below) initial public offering (&ldquo;IPO&rdquo;), which are exercisable
at a price of $11.50 per share (the &ldquo;Private Warrants&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Prospectus and this prospectus
supplement also relate to the resale from time to time by the selling securityholders named in the Prospectus or their permitted transferees
(the &ldquo;Selling Securityholders&rdquo;) of (i) 4,312,500 shares of Common Stock (the &ldquo;Founder Shares&rdquo;) that were issued
to the Co-sponsors in conjunction with the IPO at a purchase price equivalent to approximately $0.00058 per Founder Share and subsequently
converted upon the closing of the Business Combination and (ii) 3,100,000 shares of Common Stock purchased by certain Selling Securityholders
at a price of $10.00 per share of Common Stock, and issued pursuant to the terms of certain subscription agreements entered into in connection
with the Business Combination pursuant to the Merger Agreement (the &ldquo;Merger Agreement,&rdquo; and together with the other agreements
and transactions contemplated thereby, the &ldquo;Business Combination&rdquo;) by and among CleanTech Acquisition Corp. (&ldquo;CleanTech&rdquo;
or &ldquo;CLAQ&rdquo;), Nauticus Robotics Holdings, Inc. (formerly known as &ldquo;Houston Mechatronics, Inc.&rdquo;), a Texas corporation
(&ldquo;Nauticus Robotics Holdings&rdquo;), and CleanTech Merger Sub, Inc. (&ldquo;Merger Sub&rdquo;), a wholly-owned subsidiary of CleanTech.
Pursuant to the Merger Agreement, in connection with the consummation of the Business Combination Merger Sub merged with and into Nauticus
Robotics Holdings, with Nauticus Robotics Holdings surviving the merger as a wholly owned subsidiary of the Company, and the Company was
renamed &ldquo;Nauticus Robotics, Inc.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Further, the Prospectus and
this prospectus relate to the offer and sale by us of (i) 2,922,425 shares of Common Stock (the &ldquo;SPA Warrant Shares&rdquo;) which have been or may be issued from time to time upon the exercise of 2,922,425 warrants that were issued to certain Selling Securityholders (the &ldquo;SPA Investors&rdquo;)
pursuant to the SPA, with an exercise price of $20.00 per share (the &ldquo;SPA Warrants&rdquo;) and (ii) 2,922,425
shares of Common Stock (the &ldquo;Debenture Shares&rdquo; and together with the SPA Warrant Shares, the &ldquo;SPA Shares&rdquo;) issuable
upon the conversion of the Debentures (defined below) that were purchased by certain Selling Securityholders pursuant to the SPA, with
a conversion price of $15.00 per share. Pursuant to the Securities Purchase Agreement by and among the Company, Nauticus Robotics Holdings,
and the SPA Investors (the &ldquo;SPA&rdquo;), the SPA Investors subscribed for Debentures in an aggregate principal amount of $36,530,320.
In exchange, for such subscriptions, Nauticus delivered to such Selling Securityholders (i) a Debenture with a principal amount equal
to such Selling Securityholder&rsquo;s subscription amount and (ii) SPA Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus supplement
updates and supplements the information in the Prospectus and is not complete without, any may not be delivered or utilized except in
combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction
with the Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should
rely on the information in this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Common Stock is listed on the Nasdaq Stock Market LLC under the symbol &ldquo;KITT.&rdquo; On July
21, 2023, the closing price for our Common Stock was $2.05 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Investing in our securities
involves risks that are described in the &ldquo;Risk Factors&rdquo; section beginning on page 12 of the Prospectus. Neither the SEC nor
any state securities commission has approved or disapproved of the securities to be issued under the Prospectus or determined if the Prospectus
or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>The date of this prospectus is July 24, 2023.
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>WASHINGTON,
DC 20549</B>&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FORM
<FONT ID="xdx_90C_edei--DocumentType_c20230622__20230622_zdldyzrZrte1">8-K</FONT></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CURRENT
REPORT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PURSUANT
TO SECTION 13 or 15(d) </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>OF
THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Date
of report (Date of earliest event reported): <FONT ID="xdx_906_edei--DocumentPeriodEndDate_c20230622__20230622_z7AIprLfrAl5">June 22, 2023</FONT></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><FONT ID="xdx_909_edei--EntityRegistrantName_c20230622__20230622_zwZqBWSAAszc">NAUTICUS ROBOTICS, INC.</FONT></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(Exact
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

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of principal executive offices, zip code)</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Registrant&rsquo;s
telephone number, including area code: <FONT ID="xdx_903_edei--CityAreaCode_c20230622__20230622_ziqCZQZVBPBl">(281)</FONT> <FONT ID="xdx_906_edei--LocalPhoneNumber_c20230622__20230622_z0f66vziPtbf">942-9069</FONT></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

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    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written
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    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
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    communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
registered pursuant to Section 12(b) of the Act:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
of this&#160;chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company <FONT ID="xdx_906_edei--EntityEmergingGrowthCompany_c20230622__20230622_zgYI3qzcYnQd">&#9746;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <FONT ID="xdx_90B_edei--EntityExTransitionPeriod_c20230622__20230622_zv8Gt94zlZZ3">&#9744;</FONT></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
1.01. Entry into a Material Definitive Agreement.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Warrant
Repricing and Issuance</I></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 22, 2023, Nauticus
Robotics, Inc., a Delaware corporation (the &ldquo;<FONT STYLE="text-decoration: underline">Company</FONT>&rdquo;), entered into warrant exercise&#160;inducement&#160;offer&#160;letters
(the &ldquo;<FONT STYLE="text-decoration: underline">Letter Agreements</FONT>&rdquo;) with certain holders (the &ldquo;<FONT STYLE="text-decoration: underline">Exercising Holders</FONT>&rdquo;) of outstanding warrants
(the &ldquo;<FONT STYLE="text-decoration: underline">Existing Warrants</FONT>&rdquo;) to purchase shares of the Company&rsquo;s common stock (the &ldquo;<FONT STYLE="text-decoration: underline">Common Stock</FONT>&rdquo;),
pursuant to which the Exercising Holders agreed to amend the exercise price of the Existing Warrants, which are exercisable to purchase,
in the aggregate, 2,922,425 shares of Common Stock (the &ldquo;<FONT STYLE="text-decoration: underline">Existing Warrant Shares</FONT>&rdquo;), in exchange for the Company&rsquo;s
agreement to&#160;(i) lower the exercise price of the Existing Warrants to a weighted average of $3.28 per share, with multiple tranches
priced between $2.04 and $4.64 per share, and (ii) upon the Exercising Holders&rsquo; exercise of the Existing Warrants, issue new warrants
(the &ldquo;<FONT STYLE="text-decoration: underline">New Warrants</FONT>&rdquo;) to the Exercising Holders to purchase, in the aggregate, up to 2,922,425 shares of Common Stock.
The Company expects to receive aggregate gross proceeds of approximately $9.6 million from the exercise of all of the Existing Warrants
by the Exercising Holders.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
terms and delivery of the New Warrants shall be substantially in the form of the Existing Warrants and (i) have an exercise price of
$20.00 per share, (ii) are exercisable immediately, and (iii) are exercisable until September 9, 2032.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Exercising Holders agreed that the Company shall only issue such number of Existing Warrant Shares to the Exercising Holders that would
not cause any holder to exceed the maximum number permitted by the beneficial ownership limitations set forth in Section 1(f) of the
Existing Warrants, among other applicable terms. The Exercising Holders agreed that the New Warrants will contain restrictive legends
when issued, and neither the New Warrants nor the shares of Common Stock issuable upon exercise of the New Warrants will be registered
under the Securities Act of 1933, as amended, except as required by the Letter Agreements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
foregoing descriptions of the Letter Agreements do not purport to be complete and are subject to, and qualified in their entirety by,
the form of such documents attached as Exhibit 10.1, to this Current Report on Form 8-K, which is incorporated herein by reference.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>First
Amendment to Registration Rights Agreement</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company and certain investors (the &ldquo;<FONT STYLE="text-decoration: underline">Holders</FONT>&rdquo;) are party to (i) that certain Securities Purchase Agreement, dated as
of December 16, 2021 (as amended by those certain letter agreements dated as of January 31, 2022 and September 9, 2022, the &ldquo;<FONT STYLE="text-decoration: underline">SPA</FONT>&rdquo;),
pursuant to which the Holders agreed to purchase from the Company 5% Original Issue Discount Senior Secured Convertible Debentures and
the Existing Warrants (together, the &ldquo;<FONT STYLE="text-decoration: underline">Securities</FONT>&rdquo;), and (ii) that certain Registration Rights Agreement, dated as
of September 9, 2022 (the &ldquo;<FONT STYLE="text-decoration: underline">RRA</FONT>&rdquo;), pursuant to which the Company and the Holders agreed to certain requirements and
conditions covering the resale by the Holders of the Common Stock into which the Securities are convertible or exercisable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the terms of the RRA,
upon the closing of its business combination with the Company on September 9, 2022, the Company was required to (i) file a registration
statement within 15 business days of such closing and (ii) use its best efforts to cause such registration statement to be declared effective
as promptly as possible after the filing thereof, but in any event no later than the applicable Effectiveness Date (as defined in the
RRA) (the &ldquo;<FONT STYLE="text-decoration: underline">Registration Requirements</FONT>&rdquo;). The RRA additionally provided for liquidated damages if the Registration Requirements
were not met.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accordingly,
on June 22, 2023, the Company and the Holders entered into the First Amendment to Registration Rights Agreement (the &ldquo;<FONT STYLE="text-decoration: underline">Amended
RRA</FONT>&rdquo;), pursuant to which the Company has agreed to deliver to the Holders an aggregate of 1,890,066 shares of Common Stock
(the &ldquo;<FONT STYLE="text-decoration: underline">RRA Shares</FONT>&rdquo;), in exchange for the release by the Holders of any and all claims, remedies, or causes of action
under any of the Transaction Documents (as defined in the RRA), including all past and future claims for liquidated damages under the
RRA.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Among
other things, the Company has also agreed to file a registration statement on Form S-3 (or other appropriate form if the Company is not
then eligible to use Form S-3) providing for the resale by the Holders of the RRA Shares and to cause such registration statement to
become effective as soon as practicable thereafter as required by the Amended RRA.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
foregoing description of the Amended RRA does not purport to be complete and is subject to, and qualified in its entirety by reference
to, the full text of the Amended RRA, which is filed as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.
The foregoing descriptions of the SPA and RRA do not purport to be complete and are subject to, and qualified in their entirety by reference
to, the full text of the SPA and RRA, which are filed as Exhibit 10.14 and Exhibit 10.17, respectively, with the Company&rsquo;s Current
Report on Form 8-K filed on September 15, 2022, each of which is incorporated by reference herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
3.02. Unregistered Sales of Equity Securities.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
disclosure in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
8.01. Other Events. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 23, 2023, the Company
issued a press release announcing that Nauticus Robotics Brazil Ltda., a Brazilian limited liability company (&ldquo;<FONT STYLE="text-decoration: underline">Nauticus Brazil</FONT>&rdquo;)
and a wholly owned subsidiary of the Company, entered into an agreement (the &ldquo;<FONT STYLE="text-decoration: underline">Agreement</FONT>&rdquo;) with Petr&#243;leo Brasileiro
S.A., a Brazilian limited liability corporation (&ldquo;<FONT STYLE="text-decoration: underline">Petrobras</FONT>&rdquo;), pursuant to which, among other things and upon the terms
and subject to the conditions set forth therein, Nauticus Brazil will provide Petrobras with underwater inspection services through the
use of an Aquanaut, the Company&rsquo;s autonomous subsea robotic system, as previously reported in the Company&rsquo;s Current Report
on Form 8-K filed on May 30, 2023.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
text of the press release reads as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;Nauticus
Robotics, Inc. (&ldquo;Nauticus&rdquo; or the &ldquo;Company&rdquo;) (NASDAQ: KITT), a developer of autonomous robots using artificial
intelligence for data collection and intervention services for the ocean industries, today announced that it has been awarded a contract
with Petrobras (NYSE: PBR), one of the world&rsquo;s largest energy companies, to deploy Aquanaut, the Company&rsquo;s autonomous subsea
robot, to support Petrobras&rsquo; offshore activities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Petrobras
has ramped up efforts recently in robotics and artificial intelligence and is pioneering their application to the offshore sectors. Toward
that end, this relevant contract was competitively awarded to Nauticus and will utilize Aquanaut in Petrobras&rsquo; Deepwater Production
Field using supervised autonomy for infield inspection services. The contract consists of approximately two months of subsea inspection
time and is one of the largest awarded contracts of its kind to date worldwide. Nauticus&rsquo; success in winning this initial award places
it as a relevant player for potential subsequent contracts that Petrobras estimates to be carried out and expands Nauticus&rsquo; growing
international presence to South America with a leading operator.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Over
the past several years, Nauticus has been developing a library of autonomous behaviors based on the latest techniques in machine learning
and artificial intelligence, which enable its subsea robots to learn and adapt to the dynamic conditions of working underwater. The fully
electric Aquanaut carries an array of multi-spectral perception sensors that allow the robot to detect, classify, inspect, and act upon
subsea infrastructure using its pair of manipulators without direct operator control. This method provides significant cost and greenhouse
gas emissions reductions over conventional methods.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;A
contract with another worldwide leading operator for Nauticus speaks to the state-of-the-art technologies of our autonomous robots as
we further penetrate the global markets,&rdquo; said Nicolaus Radford, CEO of Nauticus. &ldquo;The market opportunity for Nauticus in
offshore Brazil is significant, as it is one of the world&rsquo;s most active offshore energy basins; we are pleased to enter this market through
a world class operator. We competed through a rigorous tender process with many well-respected industry competitors to earn this business
with Petrobras and eagerly await the deployment of our assets to validate our capabilities. We continue to build our robust pipeline
of opportunities, giving us confidence to execute on our mission and deliver long-term value to shareholders.&rdquo;&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
9.01. Financial Statements and Exhibits. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)
Exhibits</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; font-family: Times New Roman, Times, Serif; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Exhibit&#160;No.</I></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font-family: Times New Roman, Times, Serif; width: 89%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Description</I></FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_001">Form of Letter Agreements.</A></FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_002">First Amendment to Registration Rights Agreement, dated as of June 22, 2023.</A></FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_003">Press Release dated June 23, 2023.</A></FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">104</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cover
    Page Interactive Data File &#8211; the cover page XBRL tags are embedded within the Inline XBRL document. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#160;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#160;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#160;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nauticus
    Robotics, Inc.</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 36%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font-family: Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Nicolaus Radford</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicolaus
    Radford</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: June
23, 2023</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">

<P STYLE="margin: 0; text-align: right"><B><A NAME="a_001"></A>Exhibit 10.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NAUTICUS ROBOTICS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.25in; text-align: justify; text-indent: 0.5in">June 22, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holder of Common Stock Purchase Warrant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Inducement
Offer to Exercise Common Stock Purchase Warrants</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Nauticus Robotics, Inc. (the
&ldquo;<U>Company</U>&rdquo;) is pleased to offer to you the opportunity to exercise all of the common stock purchase warrants (the &ldquo;<U>Existing
Warrants</U>&rdquo;) issued under the Securities Purchase Agreement, entered into on December 16, 2021, as amended on January 31, 2022,
and as further amended on September 9, 2022 (&ldquo;<U>Purchase Agreement</U>&rdquo;), among the Company and the signatories thereto,
including you (the &ldquo;<U>Holder</U>&rdquo;). [&#9679;] shares underlying the Existing Warrants (&ldquo;<U>Warrant Shares</U>&rdquo;)
have been registered for resale pursuant to the registration statement on Form S-1 (File No. 333-267375) (the &ldquo;<U>Registration Statement</U>&rdquo;).
The Registration Statement is currently effective and, upon exercise of the Existing Warrants pursuant to this letter agreement, will
be effective for the sale by the Holder of the Warrant Shares. Capitalized terms not otherwise defined herein shall have the meanings
set forth in the Existing Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In consideration for exercising,
from time to time until March 1, 2024 (the &ldquo;<U>Termination Date</U>&rdquo;), the Existing Warrants held by you (the &ldquo;<U>Warrant
Exercise</U>&rdquo;) at a reduced exercise prices as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">[&#9679;] Warrant Shares at
$2.04,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">[&#9679;] Warrant Shares at
$2.44,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">[&#9679;] Warrant Shares at
$3.03, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">[&#9679;] Warrant Shares at
$4.64,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">the Company hereby offers to issue you or your
designee a newly issued Common Stock Purchase Warrant (&ldquo;<U>New Warrant</U>&rdquo;), issuable on a quarterly basis (as to New Warrants
issuable upon a Warrant Exercise during the prior fiscal quarter), to purchase up to, for each Warrant Share exercised pursuant to a Warrant
Exercise hereunder, a New Warrant to purchase 1.0 Warrant Shares (&ldquo;<U>New Warrant Shares</U>&rdquo;), which New Warrant shall be
substantially in the form of the Existing Warrants, will be exercisable immediately, and have a term of exercise ending on September 9,
2032 and an exercise price equal to $20.00 (including, for purposes of clarification, full-ratchet anti-dilution on the exercise price
and number of Warrant Shares issuable based on the aggregate exercise price using $20.00 as the base exercise price). The New Warrants
and New Warrant Shares are being offered without registration pursuant to the exemption provided by Section 4(a)(2) of the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). The original New Warrant certificate(s), if any, will be delivered within
two Business Days following the end of each fiscal quarter. Notwithstanding anything herein to the contrary, in the event the Warrant
Exercise would otherwise cause the Holder to exceed the beneficial ownership limitations (&ldquo;<U>Beneficial Ownership Limitation</U>&rdquo;)
set forth in Section 1(f) of the Existing Warrants, the Company shall only issue such number of Warrant Shares to the Holder that would
not cause the Holder to exceed the maximum number of Warrant Shares permitted thereunder with the balance to be held in abeyance until
notice from the Holder that the balance (or portion thereof) may be issued in compliance with such limitations, which abeyance shall be
evidenced through the Existing Warrant which shall be deemed prepaid thereafter, and exercised pursuant to a Notice of Exercise in the
Existing Warrant (provided no additional exercise price shall be payable). The delivery of the Warrant Shares shall otherwise be pursuant
to the terms of the Existing Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Expressly subject to the paragraph
immediately following this paragraph below, Holder may accept this offer by signing this letter below on or before 7:30 a.m. Eastern on
June 23, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, the Company
agrees to the representations, warranties and covenants set forth on <U>Annex A</U> attached hereto. Holder represents and warrants that
it is either a &ldquo;qualified institutional buyer&rdquo; (as defined in Rule 144A under the Securities Act) or an &ldquo;accredited
investor&rdquo; as defined in Rule 501 of the Securities Act, and agrees that the New Warrants will contain restrictive legends when issued,
and neither the New Warrants nor the shares of Common Stock issuable upon exercise of the New Warrants will be registered under the Securities
Act, except in the discretion of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The Holder understands that the New Warrants and the New Warrant Shares are not, and may never be, registered under the Securities Act, or the securities laws of any state and, accordingly, each certificate, if any, representing such securities shall bear a legend substantially similar to the following:</FONT> &nbsp; &nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in">&ldquo;THIS SECURITY
HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;), AND, ACCORDINGLY, MAY NOT BE OFFERED
OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR
IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS. THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A
FINANCIAL INSTITUTION THAT IS AN &ldquo;ACCREDITED INVESTOR&rdquo; AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED
BY SUCH SECURITIES.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Book entries evidencing New Warrant Shares shall not contain any legend (including the legend set forth above), (i) while a registration statement covering the resale of such Common Stock is effective under the Securities Act, (ii) following any sale of such Common Stock pursuant to Rule 144 under the Securities Act, (iii) if such Common Stock is eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Common Stock and without volume or manner-of-sale restrictions, (iv)&nbsp;if such Common Stock may be sold under Rule 144 and the Company is then in compliance with the current public information required under Rule 144 as to such Common Stock, or (v) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Securities and Exchange Commission (the &ldquo;<U>Commission</U>&rdquo;) and the earliest of clauses (i) through (v), the &ldquo;<U>Delegend Date</U>&rdquo;)). The Company shall cause its counsel to issue a legal opinion to the transfer agent promptly after the Delegend Date if required by the Company and/or the transfer agent to effect the removal of the legend hereunder, which opinion shall be in form and substance reasonably acceptable to the Holder. If such Common Stock may be sold under Rule 144 without the requirement for the Company to be in compliance with the current public information required under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Common Stock shall be issued free of all legends. The Company agrees that following the Delegend Date or at such time as such legend is no longer required under this paragraph, it will, no later than two (2) Trading Days following the delivery by the Holder to the Company or the transfer agent of a certificate representing the Common Stock underlying the New Warrants issued with a restrictive legend (such second Trading Day, the &ldquo;<U>Legend Removal Date</U>&rdquo;), deliver or cause to be delivered to the Holder a certificate or report representing such shares that is free from all restrictive and other legends or, at the request of the Holder shall credit the account of the Holder&rsquo;s prime broker with the Depository Trust Company System as directed by the Holder. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the Holder&rsquo;s
other available remedies, the Company shall pay to a Holder, in cash, (i) as partial liquidated damages and not as a penalty, for each
$1,000 of Shares or Warrant Shares (based on the VWAP of the Common Stock on the date such Warrant Shares are submitted to the Transfer
Agent) delivered for removal of the restrictive legend, $10 per Trading Day (increasing to $20 per Trading Day five (5) Trading Days
after such damages have begun to accrue) for each Trading Day after the Legend Removal Date until such (A) certificate is delivered without
a legend or (B) such report representing such shares that is free from all restrictive and other legends is delivered and (ii) if the
Company fails to (a) issue and deliver (or cause to be delivered) to the Holder by the Legend Removal Date a copy of the book entry representing
the Securities so delivered to the Company by the Holder that is free from all restrictive and other legends and (b) if after the Legend
Removal Date the Holder purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a
sale by the Holder of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal
to all or any portion of the number of shares of Common Stock that the Holder anticipated receiving from the Company without any restrictive
legend, then, an amount equal to the excess of the Holder&rsquo;s total purchase price (including brokerage commissions and other out-of-pocket
expenses, if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any)
(the &ldquo;<U>Buy-In Price</U>&rdquo;) over the product of (A) such number of Warrant Shares that the Company was required to deliver
to the Holder by the Legend Removal Date multiplied by (B) the lowest closing sale price of the Common Stock on any Trading Day during
the period commencing on the date of the delivery by the Holder to the Company of the applicable Warrant Shares (as the case may be)
and ending on the date of such delivery and payment under this clause (ii). &nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company and the Holder
hereby agree that the definition of &ldquo;Registrable Securities&rdquo; in the Registration Rights Agreement entered into in connection
with the Purchase Agreement is hereby amended to include the New Warrant Shares and the &ldquo;Filing Date&rdquo; as defined therein and
as it relates to the New Warrant Shares, shall be 30 days from the Termination Date and the &ldquo;Effectiveness Date&rdquo; as defined
therein as it relates to the new Warrant Shares shall be 30 days after the Filing Date (or, in the event of a &ldquo;full review&rdquo;
by the Commission, as defined therein, 90 days after the Filing Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On or before 9:00 a.m. ET
on the following Trading Day this offer is accepted by the Holder, the Company shall file a Current Report on Form 8-K with the SEC disclosing
all material terms of the transactions contemplated hereunder. The Company represents, warrants and covenants that, upon acceptance of
this offer, the shares underlying the Existing Warrants shall be issued free of any legends or restrictions on resale by Holder and all
of the Warrant Shares shall be delivered electronically through the Depository Trust Company within 1 Business Day of the date the Company
receives the Warrants Exercise Price (or, with respect to Warrant Shares that would otherwise result in the Beneficial Ownership Limitation
of a Holder being exceeded, within 2 Business Days of the date the Company is notified by Holder that its ownership is less than the Beneficial
Ownership Limitation). The terms of the Existing Warrants, including but not limited to the obligations to deliver the Warrant Shares,
shall otherwise remain in effect as if the acceptance of this offer were a formal Notice of Exercise (including but not limited to any
liquidated damages and compensation in the event of late delivery of the Warrant Shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company acknowledges and
agrees that the obligations of the Holders under this letter agreement are several and not joint with the obligations of any other holders
of warrants to purchase common stock of the Company (each, an &ldquo;<U>Other Holder</U>&rdquo;) under any other agreement related to
the exercise of such warrants (&ldquo;<U>Other Warrant Exercise Agreement</U>&rdquo;), and the Holder shall not be responsible in any
way for the performance of the obligations of any Other Holder or under any such Other Warrant Exercise Agreement. Nothing contained in
this letter agreement, and no action taken by the Holders pursuant hereto, shall be deemed to constitute the Holder and the Other Holders
as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Holder and the Other Holders
are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this letter agreement
and the Company acknowledges that the Holder and the Other Holders are not acting in concert or as a group with respect to such obligations
or the transactions contemplated by this letter agreement or any Other Warrant Exercise Agreement. The Company and the Holder confirm
that the Holder has independently participated in the negotiation of the transactions contemplated hereby with the advice of its own counsel
and advisors. The Holder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights
arising out of this letter agreement, and it shall not be necessary for any Other Holder to be joined as an additional party in any proceeding
for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company hereby represents
and warrants as of the date hereof and covenants and agrees from and after the date hereof until the Termination Date, that none of the
terms offered to any Other Holder with respect to any Other Warrant Exercise Agreement (or any amendment, modification or waiver thereof),
is or will be more favorable to such Other Holder than those of the Holder and this letter agreement. If, and whenever on or after the
date hereof until 10 Trading Days after the date hereof, the Company enters into an Other Warrant Exercise Agreement, then (i) the Company
shall provide notice thereof to the Holder promptly following the occurrence thereof and (ii) the terms and conditions of this letter
agreement shall be, without any further action by the Holder or the Company, automatically amended and modified in an economically and
legally equivalent manner such that the Holder shall receive the benefit of the more favorable terms and/or conditions (as the case may
be) set forth in such Other Warrant Exercise Agreement (including the issuance of additional Warrant Shares), provided that upon written
notice to the Company at any time the Holder may elect not to accept the benefit of any such amended or modified term or condition, in
which event the term or condition contained in this letter agreement shall apply to the Holder as it was in effect immediately prior to
such amendment or modification as if such amendment or modification never occurred with respect to the Holder. The provisions of this
paragraph shall apply similarly and equally to each Other Warrant Exercise Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">***************</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To accept this offer, Holder
must counter execute this letter agreement and return the fully executed agreement to the Company by e-mail at legal@nautic.us on or before
7:30 a.m. Eastern on June 23, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Please do not hesitate to
call me if you have any questions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NAUTICUS ROBOTICS, INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 60%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 35%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accepted and Agreed to:</FONT></TD>
    <TD STYLE="width: 30%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of Holder: ________________________________________________</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Signature of Authorized
    Signatory of Holder</I>: _________________________</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of Authorized Signatory:_____________________________________</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title of Authorized Signatory:______________________________________</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DTC Instructions:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Annex A</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Representations, Warranties
and Covenants of the Company</U>. The Company hereby makes the following representations and warranties to the Holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a) <U>Affirmation
of Prior Representations, Warranties and Covenants</U>. The Company hereby represents and warrants to the Holder that the
Company&rsquo;s representations and warranties as set forth in Section 3(a) and the Company&rsquo;s covenants listed in Article IV
of Purchase Agreement, together with any updates in the Company&rsquo;s public reports filed with the SEC subsequent to the
Underwriting Agreement, are true and correct as of the date hereof and have been fully performed as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b) <U>Authorization;
Enforcement</U>. The Company has the requisite corporate power and authority to enter into and to consummate the transactions
contemplated by this letter agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and
delivery of this letter agreement by the Company and the consummation by the Company of the transactions contemplated hereby have
been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, its board
of directors or its stockholders in connection therewith. This letter agreement has been duly executed by the Company and, when
delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against
the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors&rsquo; rights
generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c) <U>No
Conflicts</U>. The execution, delivery and performance of this letter agreement by the Company and the consummation by the Company of
the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company&rsquo;s certificate
or articles of incorporation, bylaws or other organizational or charter documents; or (ii) conflict with, or constitute a default (or
an event that with notice or lapse of time or both would become a default) under, result in the creation of any &nbsp;liens, claims,
security interests, other encumbrances or defects upon any of the properties or assets of the Company in connection with, or give to
others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any material
agreement, credit facility, debt or other material instrument (evidencing Company debt or otherwise) or other material understanding
to which such Company is a party or by which any property or asset of the Company is bound or affected; or (iii) conflict with or result
in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority
to which the Company is subject (including federal and state securities laws and regulations), or by which any property or asset of the
Company is bound or affected, except, in the case of each of clauses (ii) and (iii), such as could not have or reasonably be expected
to result in a material adverse effect upon the business, prospects, properties, operations, condition (financial or otherwise) or results
of operations of the Company, taken as a whole, or in its ability to perform its obligations under this letter agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d) <U>Nasdaq
Corporate Governance</U>. The transactions contemplated under this letter agreement, comply with all rules of the Nasdaq Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="margin: 0; text-align: right"><B><A NAME="a_002"></A>Exhibit 10.2</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>FIRST
AMENDMENT To<BR>
Registration Rights Agreement </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This first amendment (&ldquo;<U>Amendment</U>&rdquo;)
dated as of June 22, 2023 (&ldquo;<U>Amendment Date</U>&rdquo;) is entered into by and among Nauticus Robotics, Inc. (f/k/a CleanTech
Acquisition Corp.), a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and each of the entities identified as a &ldquo;Holder&rdquo;
on the signature page hereto (each, a &ldquo;<U>Holder</U>&rdquo; and collectively, the &ldquo;<U>Holders</U>&rdquo;). Any capitalized
term used but not defined herein shall have the definition ascribed to it in the Registration Rights Agreement, dated as of September
9, 2022, by and among the Company and the Holders party thereto (the &ldquo;<U>RRA</U>&rdquo;). The Company and the Holders may be referred
to hereinafter each as a &ldquo;party,&rdquo; and collectively as the &ldquo;parties.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><B>WHEREAS</B>, pursuant to
that certain Securities Purchase Agreement, dated as of December 16, 2021 (as amended by those certain letter agreements dated as of January
31, 2022 and September 9, 2022, the &ldquo;<U>SPA</U>&rdquo;), the Holders agreed to purchase from the Company 5% Original Issue Discount
Senior Secured Convertible Debentures (the &ldquo;<U>Debentures</U>&rdquo;) and certain warrants of the Company (the &ldquo;<U>Warrants</U>,
and together with the Debentures, the &ldquo;<U>Securities</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><B>WHEREAS</B>, in connection
with the purchase of the Securities, the Company and the Holders entered into the RRA, pursuant to which the Company agreed, among other
things, (i) within 15 calendar days of the Closing Date (as defined in the SPA), to file with the Commission a Registration Statement
covering all Registrable Securities (the &ldquo;<U>Initial Registration Statement</U>&rdquo;) and (ii) to use its best efforts to cause
the Initial Registration Statement to be declared effective as promptly as possible after the filing thereof, but in any event no later
than the applicable Effectiveness Date under the RRA;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><B>WHEREAS</B>, the Company
filed the Initial Registration Statement on Form S-1 (File No. 333-267375) on the Closing Date, and the Initial Registration Statement
was declared effective by the Commission on April 18, 2023;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><B>WHEREAS</B>, under Section 2(d) of the RRA, liquidated damages may become
payable in cash by the Company to the Holders by reason of, among other things, the Initial Registration Statement not having been declared
effective by the Commission on or before the applicable Effectiveness Date (any and all liquidated damages incurred, accrued, and/or
payable, and any other amounts, claims, remedies, or causes of action that may be payable or available, whether currently or in the future,
under one or more Transaction Documents by reason of or otherwise relating to the Effectiveness Date of the Initial Registration Statement
are hereinafter referred to as &ldquo;<U>Initial Effectiveness Date Claims</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><B>WHEREAS</B>, pursuant to
and in accordance with the terms and conditions set forth in Section 6(d) of the RRA, the RRA may be amended with the written consent
of the Company and the Holders of at least 50.1% of the outstanding Registrable Securities; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><B>WHEREAS</B>, the Holders party hereto
represent 100% of the outstanding Securities and Registrable Securities as of the Amendment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><B>NOW, THEREFORE, IN CONSIDERATION</B>
of the mutual covenants contained in this Amendment, and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged by each party hereto, the parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECTION 1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Agreements; Waivers</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">1.1 <B>Agreements</B>.
The parties acknowledge and agree that (i) the Company has complied with its obligations under the RRA with respect to the filing of the
Initial Registration Statement, (ii) upon the effectiveness of this Amendment and the Company&rsquo;s performance of its obligations hereunder
with respect to the Shares (as defined below), the Company will be in full compliance with all of its obligations relating to the Initial
Registration Statement under the Transaction Documents, including Section 2 of the RRA, as of the date hereof, and (iii) this Amendment
shall be deemed to amend the RRA as, but only to the extent necessary, to carry out the intent and purposes of the parties&rsquo; agreements
contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">1.2 <B>Waiver
and Settlement; Payment of Shares in Lieu of Cash</B>. In lieu of one or more cash payments for or relating to any Initial Effectiveness
Date Claims, and in consideration of the foregoing agreements and the following waivers of any and all provisions of each of the Transaction
Documents providing for damages or any other Initial Effectiveness Date Claims, as a full settlement and compromise of all prior and future
Initial Effectiveness Date Claims, each of the Holders hereby agrees to the receipt of its allocation (as further described below) of
an aggregate of 1,890,066 shares of the Company&rsquo;s common stock (the &ldquo;<U>Shares</U>&rdquo;). By its execution and delivery
of this Amendment, upon receipt of its allocated Shares, which each Holder acknowledges constitutes good and valuable consideration, each
Holder knowingly and voluntarily waives and forever releases the Company from any claims, remedies, or causes of action under any of the
Transaction Documents or otherwise relating to any actual, asserted, or purported breach, default, cross-default, Event, or event of default
(or similar provision or occurrence) under any of the Transaction Documents for any damages, amounts, or other claims, including any Initial
Effectiveness Date Claims, arising out of or related to the matters described herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">1.3 <B>Allocation;
Other Agreements</B>. The Shares shall be allocated on a pro rata basis and issued to the Holders in the respective amounts identified
on the signature page hereto and shall be subject to the transfer restrictions and other requirements set forth in Section 4.1 of the
SPA, as well as any other restrictions or requirements as the parties may separately agree in writing. The issuance of the Shares, and
the removal of legends thereon, shall be otherwise effected by the Company pursuant and subject to the terms of Section 4.1 of the SPA,
including with respect to the payment of liquidated damages and buy-in compensation for the failure to remove legends in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">1.4 <B>Holder
Representations and Warranties</B>. Each Holder, for itself and for no other Holder, represents and warrants to the Company (a) it is
the record and beneficial holder of the Securities as indicated under such Holder&rsquo;s name on the signature page hereto, and (b) this
Amendment has been duly authorized by the Holder and constitutes the valid and legally binding obligation of such Holder, enforceable
in accordance with its terms. Each Holder represents and warrants that it understands and agrees that the Shares are &ldquo;restricted
securities&rdquo; and have not been registered under the Securities Act or any applicable state securities law and that such Holder is
acquiring the Shares as principal for its own account and not with a view to or for distributing or reselling such Shares or any part
thereof in violation of the Securities Act or any applicable state securities law, has no present intention of distributing any of such
Shares in violation of the Securities Act or any applicable state securities law and has no direct or indirect arrangement or understandings
with any other persons to distribute or regarding the distribution of such Shares in violation of the Securities Act or any applicable
state securities law (this representation and warranty not limiting such Holder&rsquo;s right to sell the Shares pursuant to a registration
statement otherwise in compliance with applicable federal and state securities laws). At the time such Holder was offered the Shares,
it was, and as of the date hereof it is, an &ldquo;accredited investor&rdquo; as defined in Rule 501(a) under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">1.5 <B>Registration
Obligation</B>. As soon as practicable (and in any event within 45 calendar days of the date of this Agreement), the Company shall use
commercially reasonable efforts to file a registration statement on Form S-3 (or other appropriate form if the Company is not then S-3
eligible) providing for the resale by the Holders of the Shares issued hereunder and to cause such registration statement to become effective
as soon as practicable thereafter.&nbsp; The Company shall use commercially reasonable efforts to maintain the effectiveness of such registration
statement at all times until the date that all Shares covered by such registration statement (i) have been disposed of by the Holders,
thereunder or pursuant to Rule 144, or (ii) may be sold without volume or manner-of-sale restrictions pursuant to Rule 144 and without
the requirement for the Company to be in compliance with the current public information requirement under Rule 144, as determined by the
counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company&rsquo;s transfer agent
and the affected Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">1.6 <B>Disclosure</B>.
The Company shall file a Current Report on Form 8-K with the Commission within the time required by the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECTION 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Miscellaneous</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">2.1 <B>No
Other Amendment to RRA or Other Waivers. </B>Each Holder&rsquo;s agreement to receive Shares in lieu of cash applies only to Initial Effectiveness
Date Claims and shall be in full and final settlement in relation thereto, and future liquidated damages, if any, shall accrue and be
payable otherwise pursuant to the terms of the RRA except as otherwise set forth herein or subsequently agreed to by the parties in writing.
Except as expressly amended by this Amendment, all other terms of the RRA and each other Transaction Document shall continue in full force
and effect after the execution of this Agreement and shall not be in any way changed, modified, or superseded by the terms set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">2.2 <B>Governing
Law; Consent to Jurisdiction.</B> This Amendment shall be governed by and construed under the internal laws of the State of New York as
applied to agreements among New York residents entered into and to be performed entirely within New York, without reference to principles
of conflict of laws or choice of laws. The parties to this Amendment hereby consent to the exclusive jurisdiction and venue of the state
and federal courts located in New York, New York, for purposes of any action arising out of or relating to this Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">2.3 <B>Entire
Agreement. </B>This Amendment constitutes the full and entire understanding and agreement between the parties with regard to the subjects
hereof and thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">2.4 <B>Counterparts.
</B>This Amendment may be executed in any number of counterparts, each of which shall be an original, but all of which together shall
constitute one instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature Page follows</I>]</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned have caused
this Amendment to be executed as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 243pt 0pt 27pt; text-indent: -27pt"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 243pt 0pt 27pt; text-indent: -27pt"><FONT STYLE="text-transform: uppercase"><B>Nauticus
Robotics, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 243pt 0pt 27pt; text-align: center; text-indent: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Signed:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Nicolaus Radford</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicolaus Radford</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Its: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 243pt 0pt 27pt; text-align: center; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>I
HEREBY CONSENT TO THE FOREGOING AMENDMENT</B></FONT>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of Holder:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ATW Special Situations I LLC</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Signature of Holder:</I></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Kerry Propper</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="width: 30%">Kerry Propper</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Its:</TD>
    <TD>Authorized Signatory of:</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ATW PARTNERS OPPORTUNITIES </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT, LLC, Manager</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pro Rata Shares: </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of Holder:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Material Impact Fund II, L.P.</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Signature of Holder:</I></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Adam Sharkawy</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD>Adam Sharkawy</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Its:</TD>
    <TD>Managing Member of:</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MATERIAL IMPACT FUND</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PARTNERS II, LLC, General Partner</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pro Rata Shares: </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of Holder:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The 2022 SLS Family Irrevocable Trust</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Signature of Holder:</I></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Adam Westreich</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD>Adam Westreich</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Its: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trustee</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pro Rata Shares: </FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature Page to Registration Rights Agreement
Amendment]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I></I></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#160;</P></DIV>
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<P STYLE="margin: 0; text-align: right"><B><A NAME="a_003"></A>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: left"><IMG SRC="ex99-1_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NAUTICUS IS CONTRACTED BY PETROBRAS TO DEVELOP
AND TEST THE AUV AQUANAUT IN BRAZIL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center"><I>-Contract Leads to Potential Market
worth over $100 Million Per Year-</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center"><I>-Expands Nauticus&rsquo; International
Presence to South America-</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Houston &ndash; Jun 23, 2023 &ndash;</B> Nauticus
Robotics, Inc. (&ldquo;Nauticus&rdquo; or the &ldquo;Company&rdquo;) (NASDAQ: KITT), a developer of autonomous robots using artificial
intelligence for data collection and intervention services for the ocean industries, today announced that it has been awarded a contract
with Petrobras (NYSE: PBR), one of the world&rsquo;s largest energy companies, to deploy Aquanaut, the Company&rsquo;s autonomous subsea
robot, to support Petrobras&rsquo; offshore activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Petrobras has ramped up efforts recently in robotics
and artificial intelligence and is pioneering their application to the offshore sectors. Toward that end, this relevant contract was competitively
awarded to Nauticus and will utilize Aquanaut in Petrobras&rsquo; Deepwater Production Field using supervised autonomy for infield inspection
services. The contract consists of approximately two months of subsea inspection time and is one of the largest awarded contracts of its
kind to date worldwide. Nauticus&rsquo; success in winning this initial award places it as a relevant player for potential subsequent contracts
that Petrobras estimates to be carried out and expands Nauticus&rsquo; growing international presence to South America with a leading
operator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Over the past several years, Nauticus has been
developing a library of autonomous behaviors based on the latest techniques in machine learning and artificial intelligence, which enable
its subsea robots to learn and adapt to the dynamic conditions of working underwater. The fully electric Aquanaut carries an array of
multi-spectral perception sensors that allow the robot to detect, classify, inspect, and act upon subsea infrastructure using its pair
of manipulators without direct operator control. This method provides significant cost and greenhouse gas emissions reductions over conventional
methods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;A contract with another worldwide leading
operator for Nauticus speaks to the state-of-the-art technologies of our autonomous robots as we further penetrate the global markets,&rdquo;
said Nicolaus Radford, CEO of Nauticus. &ldquo;The market opportunity for Nauticus in offshore Brazil is significant, as it is one of
the world&rsquo;s most active offshore energy basins; we are pleased to enter this market through a world class operator. We competed through
a rigorous tender process with many well-respected industry competitors to earn this business with Petrobras and eagerly await the deployment
of our assets to validate our capabilities. We continue to build our robust pipeline of opportunities, giving us confidence to execute
on our mission and deliver long-term value to shareholders.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Petrobras is one of the world&rsquo;s largest and most
active offshore operators, managing 57 platforms, ten thousand miles of oil and gas pipelines, and producing 2.6 million barrels of oil
equivalent per day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><IMG SRC="ex99-1_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Nauticus</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Nauticus Robotics, Inc. is a developer of ocean
robots and artificial intelligence for autonomous services to the marine industries. Nauticus&rsquo; robotic systems and services are
delivered to commercial and government-facing customers through a Robotics-as-a-Service (RaaS) business model and direct product sales
for both hardware platforms and software licenses. Besides a standalone service offering and products, Nauticus&rsquo; approach to ocean
robotics has also resulted in the development of a range of technology products for retrofitting/upgrading legacy systems and other third-party
vehicle platforms. Nauticus provides customers with the necessary data collection, analytics, and subsea manipulation capabilities to
support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions to improve offshore
health, safety, and environmental exposure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Petrobras</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Petrobras is a Brazilian company and one of the
largest producers of oil and gas in the world, primarily engaged in exploration and production, refining, energy generation and trading.
Petrobras has expertise in deepwater and ultra-deepwater exploration and production as a result of nearly 50 years of development of the
Brazilian offshore basins, making it the world leader in this segment. It is our priority to operate at low cost and with a low carbon
footprint, reinforcing our commitment to sustainable development.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Cautionary Language Regarding Forward-Looking
Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">This press
release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the
&ldquo;Act&rdquo;), and are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as
well as protections afforded by other federal securities laws. Such forward-looking statements include, but are not limited to: the expected
timing of product commercialization or new product releases; customer interest in Nauticus&rsquo; products; estimated 2023 operating results
and use of cash; and Nauticus&rsquo; use of and needs for capital. Generally, statements that are not historical facts, including statements
concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements.
These statements may be preceded by, followed by, or include the words &ldquo;believes,&rdquo; &ldquo;estimates,&rdquo; &ldquo;expects,&rdquo;
&ldquo;projects,&rdquo; &ldquo;forecasts,&rdquo; &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;seeks,&rdquo; &ldquo;plans,&rdquo;
&ldquo;scheduled,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;intends,&rdquo; or &ldquo;continue&rdquo; or similar expressions. Forward-looking
statements inherently involve risks and uncertainties that may cause actual events, results, or performance to differ materially from
those indicated by such statements. These forward-looking statements are based on Nauticus&rsquo; management&rsquo;s current expectations
and beliefs, as well as a number of assumptions concerning future events. There can be no assurance that the events, results, or trends
identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are
made, and Nauticus is not under any obligation and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking
statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review
the statements set forth in the reports which Nauticus has filed or will file from time to time with the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;) for a more complete discussion of the risks and uncertainties facing the Company and that could cause actual outcomes
to be materially different from those indicated in the forward-looking statements made by the Company, in particular the sections entitled
&ldquo;Risk Factors&rdquo; and &ldquo;Cautionary Note Regarding Forward-Looking Statements&rdquo; in documents filed from time to time
with the SEC, including Nauticus&rsquo; Quarterly Report on Form 10-Q filed with the SEC on May 15, 2023. Should one or more of these
risks, uncertainties, or other factors materialize, or should assumptions underlying the forward-looking information or statements prove
incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected.
The documents filed by Nauticus with the SEC may be obtained free of charge at the SEC&rsquo;s website at </FONT>www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor Relations Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ralf Esper</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gateway Group, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(949) 574-3860</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">KITT@gateway-grp.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Media Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Zach Kadletz</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gateway Group, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(949) 574-3860</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">KITT@gateway-grp.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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