Nauticus Robotics, Inc. (NASDAQ: KITT), a developer of autonomous subsea robotic systems and autonomy software, said it entered a non-binding letter of intent with a strategic investor considering a private placement equity investment of up to $50 million. The proposed funding is intended to support the company's short- and long-term commercial objectives. Nauticus' Board of Directors is evaluating the material transaction under its fiduciary duties and is considering hiring an independent financial advisor. The proposal does not require the investor to provide funding and remains subject to due diligence, negotiations, definitive agreements, applicable approvals and other closing conditions. Depending on the final terms, the investment could dilute existing shareholders or result in a change of control. Nauticus said there is no assurance that definitive agreements will be signed or that the transaction will close on the contemplated terms, or at all.