Summary by Futu AI
On August 1, 2024, Nukkleus Inc. entered into a significant financial agreement with East Asia Technology Investments Limited. Under the terms of the agreement, Nukkleus Inc. issued a Senior Unsecured Promissory Note for $515,500, receiving cash proceeds of $412,075. The Note carries an annual interest rate of 12% and is set to mature six months from the issuance date. Additionally, Nukkleus Inc. provided the lender with a Stock Purchase Warrant, which allows for the acquisition of 1.4 million shares of common stock at $0.25 per share over a five-year period. The lender also has the option to convert the principal and interest of the Note into common stock at the same conversion price. These financial instruments are exempt from registration under Rule 4(a)(2) of the Securities Act of 1933 and/or Rule 506 of Regulation D, as the lender is an accredited investor. The details of the Note and Warrant are outlined in Exhibits 4.1 and 4.2, respectively, attached to the Current Report on Form 8-K filed by Nukkleus Inc.