Nukkleus Inc. Announces Strategic $10.0 Million Private Placement Priced Above-the-Market under Nasdaq Rules
Rhea-AI Summary
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.
Positive
- Secured $10.0 million in financing through private placement
- Pricing above market value at $6.00 per unit
- Strategic acquisition of Star 26 Capital Inc. with 95% ownership in RIMON
- Expansion into defense sector through RIMON's Iron Dome components business
Negative
- Potential dilution for existing shareholders through new share issuance
- Additional dilution risk from warrant exercise
News Market Reaction – NUKK
In the trading session that priced this news, NUKK gained 2.58%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
In connection with the private placement, the Company is planning to issue an aggregate of 1,666,666 units (the "Offering"). Each unit will be sold at an effective unit price of
The closing of the private placement is expected to occur on or about December 19, 2024, subject to the satisfaction of certain customary closing conditions.
Dawson James Securities is acting as the Exclusive Placement Agent for the private placement.
The securities described above are being sold in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the "Act"), and have not been registered under the Act, or applicable state securities laws. Accordingly, the securities may not be offered or sold in
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Nukkleus, Inc.
Nukkleus, Inc. (NASDAQ: NUKK) is a Nasdaq company, recently announced an acquisition of Star 26 Capital Inc – a defense-focused acquisition company.
Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts are "forward-looking statements" within the meaning of federal securities laws. In some cases, you can identify forward-looking statements by terminology such as "will," "would," "expect," "intend," "plan," "objective," or comparable terminology referencing future events, conditions or circumstances, or the negative of such terms. Although Nukkleus believes that it has a reasonable basis for the forward-looking statements contained in this press release, they are based on management's current beliefs and expectations about future events and circumstances and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond the Company's control. Risk factors described under "Risk Factors" in Nukkleus' most recently filed annual report on Form 10-K, as updated from time to time in its quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements in this press release. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Nukkleus undertakes no obligation to update any forward-looking statement contained in this press release to reflect events that occur or circumstances that exist after the date of this press release, except as required by law.
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SOURCE Nukkleus, Inc.