Nukkleus Inc. announced a 1-for-8 reverse stock split effective October 24, 2024, to regain compliance with Nasdaq's $1.00 minimum bid price requirement. The company has until November 4, 2024, to meet this requirement. The split will reduce outstanding shares from 16.9 million to approximately 2.1 million.The reverse split aims to boost the stock price without altering stockholders' ownership percentages or voting power. Nukkleus will continue trading on Nasdaq under the "NUKK" symbol with a new CUSIP number. No fractional shares will be issued, and stockholders will receive rounded-up fractions.Separately, shareholders approved an increase in authorized common stock from 40 million to 150 million shares at the October 11 annual meeting. The company's transfer agent, Continental Stock Transfer & Trust Company, will manage the exchange process for stockholders holding certificated or book-entry shares.

Nukkleus Inc. announced a 1-for-8 reverse stock split effective October 24, 2024, to regain compliance with Nasdaq's $1.00 minimum bid price requirement. The company has until November 4, 2024, to meet this requirement. The split will reduce outstanding shares from 16.9 million to approximately 2.1 million.The reverse split aims to boost the stock price without altering stockholders' ownership percentages or voting power. Nukkleus will continue trading on Nasdaq under the "NUKK" symbol with a new CUSIP number. No fractional shares will be issued, and stockholders will receive rounded-up fractions.Separately, shareholders approved an increase in authorized common stock from 40 million to 150 million shares at the October 11 annual meeting. The company's transfer agent, Continental Stock Transfer & Trust Company, will manage the exchange process for stockholders holding certificated or book-entry shares.