2024-12-18
On December 17, 2024, Nukkleus Inc
acquired a 51% controlling stake in Star 26 Capital Inc, which holds a 95%
ownership in RIMON, an Israeli supplier of components for the Iron Dome missile defense
system.
The transaction involved cash,
promissory notes, common stock, and stock warrants, with an option for Nukkleus
to acquire the remaining equity in Star 26 in the future.
RIMON's Business focuses on
distributing generators, masts, and lighting solutions through exclusive
agreements, and developing tactical vehicles for defense forces.
This acquisition positions Nukkleus in
the expanding defense industry amidst heightened geopolitical tensions in the
Middle East and Ukraine.
The newly appointed CEO of Nuekkleus,
Manny Shalom highlighted plans to integrate Star 26 operations and explore
opportunities in financial services, real estate, and technology sectors.
Nukkleus was founded in 2013 and based
in Jersey City, New Jersey.
The company develops cloud-based
cryptocurrency exchange software enabling conversion of crypto into fiat
currencies.
Its European subsidiary, Digital RFQ
(founded in 2018 by COO Jamal Khurshid), provides digital asset execution
services in OTC markets worldwide.
Nukkleus Signed MOU to increase stake holdings
in Bitcoin ETF Issuer, Jacobi Asset Management, which increases total holding
to about 20%.
Nukkleus (NUKK) went public via $140 million
SPAC merger with Brilliant Acquisition.
