NUKK discloses SC II founder share control and forfeiture terms
Rhea-AI Filing Summary
Nukkleus, Inc. (NUKK) and related entities filed an initial ownership report for SC II Acquisition Corp. (SCII). The filing shows beneficial ownership of derivative securities linked to 7,392,857 Class A ordinary shares of SC II Acquisition Corp., issuable upon conversion of Class B founder shares.
The Class B ordinary shares automatically convert into Class A ordinary shares on a one-for-one basis at the time of SC II’s initial business combination, or earlier at the holder’s option, with no expiration date. Up to 964,286 of these Class B shares are subject to forfeiture if the underwriters in SC II’s initial public offering do not fully exercise their over-allotment option.
The Class B shares are held of record by SC Capital II Sponsor LLC, whose managing member is Nukkleus Defense Technologies, Inc., a subsidiary of Nukkleus, Inc. Menachem Shalom, CEO and director of SC II, Nukkleus Defense Technologies, and Nukkleus, has voting and dispositive control over the shares through these roles but disclaims beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
Footnotes (1)
- As described in the registration statement on Form S-1 (File No. 333-290917) of SC II Acquisition Corp. (the "Issuer") under the heading "Description of Securities--Founder Shares," the shares of Class B ordinary shares will automatically convert into shares of Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date. These shares represent the Class B ordinary shares held by SC Capital II Sponsor LLC (the "Sponsor") acquired pursuant to a subscription agreement by and between the Issuer and the Sponsor. The Class B ordinary shares include up to 964,286 shares that are subject to forfeiture in the event the underwriters of the Issuer's initial public offering do not exercise in full their over-allotment option as described in the Issuer's registration statement. The Sponsor is the record holder of the Class B ordinary shares reported herein. The sole managing member of the Sponsor is Nukkleus Defense Technologies, Inc., a Nevada corporation (the "Managing Member"), which is a subsidiary of Nukkleus, Inc., a Delaware corporation ("Nukkleus"). Mr. Menachem Shalom is the Chief Executive Officer and a director of the Issuer, is the Chief Executive Officer and sole director of the Managing Member and is the Chief Executive Officer and a director of Nukkleus. Mr. Shalom serves as the Chief Executive Officer and sole director of the Managing Member at the discretion of the Board of Directors of Nukkleus. Mr. Shalom, solely in his capacity as Chief Executive Officer and sole director of the Managing Member, has voting and dispositive control over the Class B ordinary shares held by the Sponsor and reported hereunder. Mr. Shalom disclaims beneficial ownership to these securities other than to the extent that he has a pecuniary interest therein.
FAQ
What does the NUKK Form 3 filing report for SC II Acquisition Corp. (SCII)?
The Form 3 reports initial beneficial ownership of derivative securities tied to 7,392,857 Class A ordinary shares of SC II Acquisition Corp. (SCII), issuable upon conversion of Class B founder shares.
What roles does Menachem Shalom hold in relation to NUKK and SC II Acquisition Corp.?
Menachem Shalom is described as the Chief Executive Officer and a director of SC II Acquisition Corp., the Chief Executive Officer and sole director of Nukkleus Defense Technologies, Inc. (the managing member of the sponsor), and the Chief Executive Officer and a director of Nukkleus, Inc. (NUKK).