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Nukkleus, Inc. (OTC: NUKK) is a fintech group focused on acquiring, building, and scaling blockchain and digital financial services businesses. They serve b2b and institutional clients, aiming to disrupt the banking & investment industry positively.
The company offers software and technology solutions, with operating segments that include general support services and financial services. General support services cover software, technology, customer sales, marketing, and risk management solutions, while financial services involve payment services across fiat currencies and digital assets.
Recently, Nukkleus completed a strategic merger with Brilliant Acquisition Corporation, valued at approximately $105 million. This merger marks a significant step into a future rich with digital asset opportunities for businesses and investors. The combined company has been redomesticated to Delaware and its name changed to Nukkleus Inc.
Nukkleus Inc. (NASDAQ: NUKK) has appointed Brigadier General (Ret.) Mark Beesley as Strategic Advisor to the Board, focusing on defense sector acquisitions. This appointment follows the Board's unanimous approval to establish an Advisory Board.
Beesley brings over three decades of U.S. Air Force experience, including roles as Deputy Director for Operations at the National Military Command Center and Vice Commander of the Seventh Air Force in Korea. As a command pilot with over 2,950 flight hours, he specialized in space and missile defense operations. His civilian career includes serving as President and CEO of FINRA-approved broker-dealers and Chief Restructuring Officer for International Jet Management.
In his advisory role at Nukkleus, Beesley will provide guidance on acquisitions, partnerships, and emerging opportunities in the defense sector. CEO Menny Shalom highlighted the company's recent achievements, including resolving Nasdaq regulatory issues and achieving market cap growth.
Nukkleus (NASDAQ: NUKK) reports on a significant $8.7 billion U.S. defense assistance package to Israel, with $5.2 billion allocated specifically for air defense systems. The deal includes a major contract between Israel's Ministry of Defense and Rafael Advanced Defense Systems for expanding Iron Dome production and developing new technologies.
Five weeks ago, Nukkleus announced plans to acquire a 51% stake in Star 26 Capital Inc., owner of Rimon, which exclusively provides certain Iron Dome components for global sales. This strategic move aligns with increasing defense spending and demand for advanced air defense systems. The acquisition remains subject to shareholder approval.
The defense package is expected to create thousands of new jobs in Israel's defense industry. The Iron Dome system has demonstrated high success rates in intercepting rockets and missiles, while new technologies like the Iron Beam laser defense system are under development.
Nukkleus (NASDAQ: NUKK) has successfully resolved its delisting concerns with Nasdaq, as announced on January 16, 2025. The company received notification on January 15, 2025, confirming its compliance with two important Nasdaq listing requirements: the market value of listed securities (Rule 5450(b)(2)(A)) and the market value of publicly held shares (Rule 5450(b)(2&3)(C)).
As a result of achieving compliance, the previously scheduled Nasdaq hearing for January 21, 2025, has been canceled, and NUKK's securities will continue to be listed and traded on The Nasdaq Stock Market. The management views this development as a significant milestone that demonstrates their commitment to maintaining Nasdaq's compliance standards while pursuing sustainable growth.
Nukkleus (NASDAQ: NUKK) reports on the growing global defense sector amid rising geopolitical tensions. The company highlights recent developments, including Slovakia's €560 million acquisition of the Barak MX system and Israel's record-breaking defense exports. CEO Manny Shalom emphasizes the unprecedented opportunities in the defense industry as nations increase their defense budgets and seek battle-tested technologies.
The company notes that defense companies have experienced significant valuation increases over the past year, driven by increased government spending and private sector interest. Nukkleus is exploring transactions in multiple sectors, including defense, to capitalize on these emerging global trends and create stakeholder value.
Nukkleus Inc. (NASDAQ: NUKK) has announced a $10.0 million private placement with a New York-based family office investor. The company will issue 1,666,666 units at $6.00 per unit, priced above-the-market under Nasdaq rules. Each unit includes one share of restricted common stock (or pre-funded warrant) and warrants for 1.5 shares exercisable at $6.00.
The proceeds will primarily fund the acquisition of Star 26 Capital Inc., which holds 95% ownership in RIMON, an Israeli supplier of Iron Dome missile defense system components. The private placement is expected to close around December 19, 2024, with Dawson James Securities acting as the Exclusive Placement Agent.
Nukkleus (NASDAQ: NUKK) has acquired a 51% controlling stake in Star 26 Capital Inc. for $26 million, marking a strategic shift from fintech to defense. Star 26 owns 95% of RIMON, a key supplier of components for Israel's Iron Dome missile defense system. The transaction, completed on December 15, 2024, includes cash, promissory notes, common stock, and stock warrants, with an option to acquire the remaining equity later.
RIMON operates two main business lines: distribution of generators, masts, and lighting solutions through exclusive distributorship agreements, and development of tactical vehicles for defense forces. Under new CEO Manny Shalom, Nukkleus aims to capitalize on the growing defense sector, citing increased investments in Israeli defense firms amid geopolitical tensions. The company plans to expand into merchant banking activities across banking, U.S. real estate, and technology-focused coworking spaces.
Nukkleus Inc (NASDAQ: NUKK) has acquired a 51% controlling stake in Star 26 Capital Inc, a defense acquisition company that owns 95% of RIMON, an Israeli supplier of components for the Iron Dome missile defense system. The transaction, completed on December 15, 2024, included cash, promissory notes, common stock, and stock warrants.
RIMON's operations encompass two main business lines: distribution of generators, masts, and lighting solutions through exclusive distributorship agreements, and development of tactical vehicles for defense forces. The acquisition includes an option for Nukkleus to acquire the remaining equity in Star 26 in the future.
According to newly appointed CEO Manny Shalom, this strategic move positions Nukkleus in the growing defense industry, capitalizing on increased investments due to geopolitical shifts in the Middle East and Ukraine. The company plans to integrate Star 26 operations while exploring expansion into financial services, real estate, and technology sectors.
Nukkleus (NASDAQ: NUKK) announced a 1-for-8 reverse stock split effective October 24, 2024. The split aims to regain compliance with Nasdaq's $1.00 minimum bid price requirement by November 4, 2024. Post-split, NUKK's outstanding shares will reduce from 16.9 million to approximately 2.1 million. The company's authorized shares were increased from 40 million to 150 million at the October 11 annual meeting. No fractional shares will be issued, and stockholders will receive rounded-up shares. The split won't alter stockholders' ownership percentages or voting power. Continental Stock Transfer & Trust Company is managing the exchange process for stockholders.
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