Nukkleus Inc. has entered into a Securities Purchase Agreement to acquire a 51% controlling interest in Star 26 Capital Inc. for $15 million on December 15, 2024. The consideration includes minimum $5 million cash, a promissory note, 2.38 million common shares, and warrants for 6.9 million shares at $1.50 per share. Star 26 Capital owns 95% of B. Rimon Agencies Ltd., an Israeli defense supplier of generators for "iron dome" launchers.The agreement includes an option for Nukkleus to purchase the remaining 49% stake for $16.08 million through a combination of cash, promissory note, shares, and warrants. The transaction is subject to regulatory approvals, third-party consents, fairness opinion, and Nasdaq shareholder approval requirements. Notably, Menachem Shalom serves as CEO and director of both companies.Rimon operates in two main segments: distribution of generators and defense equipment through exclusive agreements, and engineering of special tactical vehicles for defense forces. The acquisition aligns with Nukkleus's strategy to capitalize on expected growth in the global defense sector.

Nukkleus Inc. has entered into a Securities Purchase Agreement to acquire a 51% controlling interest in Star 26 Capital Inc. for $15 million on December 15, 2024. The consideration includes minimum $5 million cash, a promissory note, 2.38 million common shares, and warrants for 6.9 million shares at $1.50 per share. Star 26 Capital owns 95% of B. Rimon Agencies Ltd., an Israeli defense supplier of generators for "iron dome" launchers.The agreement includes an option for Nukkleus to purchase the remaining 49% stake for $16.08 million through a combination of cash, promissory note, shares, and warrants. The transaction is subject to regulatory approvals, third-party consents, fairness opinion, and Nasdaq shareholder approval requirements. Notably, Menachem Shalom serves as CEO and director of both companies.Rimon operates in two main segments: distribution of generators and defense equipment through exclusive agreements, and engineering of special tactical vehicles for defense forces. The acquisition aligns with Nukkleus's strategy to capitalize on expected growth in the global defense sector.