On June 11, 2024, Nukkleus Inc. entered into a series of financial agreements with X Group Fund of Funds. The company issued a Senior Unsecured Promissory Note for $312,500 in exchange for $250,000 in cash proceeds. The note carries a 12% annual interest rate and matures six months from issuance. Additionally, Nukkleus granted the lender a warrant to purchase 1.2 million shares of common stock at $0.25 per share, valid for five years. The lender also has the option to convert the note's principal and interest into common stock at the same price. A Restructuring Agreement was also signed, allowing the lender to extend an additional $500,000 loan under similar terms and giving them advisory rights on potential acquisitions. The company is negotiating the sale of its...Show More

On June 11, 2024, Nukkleus Inc. entered into a series of financial agreements with X Group Fund of Funds. The company issued a Senior Unsecured Promissory Note for $312,500 in exchange for $250,000 in cash proceeds. The note carries a 12% annual interest rate and matures six months from issuance. Additionally, Nukkleus granted the lender a warrant to purchase 1.2 million shares of common stock at $0.25 per share, valid for five years. The lender also has the option to convert the note's principal and interest into common stock at the same price. A Restructuring Agreement was also signed, allowing the lender to extend an additional $500,000 loan under similar terms and giving them advisory rights on potential acquisitions. The company is negotiating the sale of its subsidiary, Digital RFQ Ltd., and has agreed to certain debt repayment terms with Emil Assentato, who has also entered into a Voting Agreement to support transactions proposed by the lender. The appointments of Reuven Yeganeh and Anastasiia Kotaieva as independent directors were confirmed, effective June 13, 2024. The company has terminated its General Services Agreement with Triton Capital Markets Ltd. due to non-payment, which historically accounted for most of Nukkleus's revenue.