Diving Deeper: Nauticus Robotics Snaps Up 3D at Depth, Paving Waves In Subsea Autonomy
Portfolio Pulse from Lekha Gupta
Nauticus Robotics Inc (NASDAQ:KITT) has announced a deal to acquire 3D at Depth, Inc. for about $34 million in stock and the assumption of debt of around $4.1 million. The acquisition will enhance KITT's autonomous underwater maritime capabilities and add 11 patents, with an additional 19 pending patents. The deal is expected to close in Q4 2023 and be accretive to KITT's 2024 revenue per share, EPS, and cash flow per share. KITT shares are currently trading lower by 2.51% at $1.7450.
October 03, 2023 | 2:14 pm
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Nauticus Robotics' acquisition of 3D at Depth is expected to enhance its autonomous underwater capabilities and add to its patent portfolio. The deal is expected to be accretive to KITT's 2024 financials.
The acquisition of 3D at Depth by Nauticus Robotics is a strategic move that will enhance the company's capabilities in the autonomous underwater maritime sector. This is likely to strengthen the company's position in the market and potentially increase its revenue and EPS in 2024, which could have a positive impact on its stock price in the long term. However, in the short term, the stock price has dropped by 2.51%, possibly due to the financial implications of the acquisition.
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