NEW
YORK, Feb. 13, 2025 /PRNewswire/ -- Nukkleus
Inc. (NASDAQ: NUKK) continues to advance its strategic realignment
toward the defense sector, announcing that it has formally
submitted a preliminary proxy to the Securities and Exchange
Commission with respect to the proposed acquisition of Star 26
Capital Inc.. This milestone follows the company's strong market
momentum since the announcement of the proposed Star 26
transaction, underscoring investor confidence in Nukkleus'
expansion strategy.
This move is further supported by enhanced financial
flexibility, achieved through the reduction of liabilities and the
termination of agreements that placed a financial burden on the
company, freeing up a significant amount of capital, allowing for a
more streamlined capital structure and enabling the company to
allocate another $5 million more
effectively toward high-growth defense assets.
Nukkleus has also submitted a Form S-1 registration statement
registering for resale the shares of common stock issued or
issuable in connetion with its recent $10 million private
placement which further reinforced its financial foundation for the
Star 26 acquisition and future expansion.
Star 26 and Rimon: Driving Strategic Expansion
Star 26 Capital Inc. is an acquisition-focused entity designed
to identify and revitalize undervalued businesses by implementing
strategic restructuring and operational improvements. Star 26
focuses on creating a strategic ecosystem of interconnected
companies within the defense, industrial, and technology sectors,
fostering synergy and innovation across its portfolio.
As part of its core holdings, Star 26 owns a 95% stake in Rimon,
a specialized supplier providing critical components for advanced
military systems, including Israel's Iron Dome. Through its restructuring
expertise, Star 26 aims to enhance Rimon's operational efficiency
and market reach, allowing it to better serve defense and aerospace
clients while expanding its technological capabilities.
By integrating Star 26 into its broader corporate strategy,
Nukkleus is seeking to execute value-driven acquisitions in
emerging markets, including defense-related
technologies.
Momentum for Expansion and Additional Acquisitions
Since the initial announcement of the proposed Star 26
acquisition, Nukkleus has experienced increased investor
interest, further reinforcing its commitment to scaling its
acquisition strategy. In addition to finalizing this
transaction, Star 26 is actively exploring additional
opportunities, seeking companies that align with its
turnaround-focused investment model.
Strategic Positioning for Long-Term Growth
"Star 26 represents a unique approach to acquisition and
value creation," said Menny
Shalom, CEO of Nukkleus. "Rather than simply
acquiring businesses, Star 26 specializes in restructuring and
revitalizing companies with strong potential. With the goal of
integrating Star 26 into our corporate portfolio, we are leveraging
its expertise in business transformation to drive long-term growth.
The additional financial flexibility we have created, combined with
the new capital inflows, places us in a strong position to execute
our strategy effectively."
While we continue to take steps with the goal of obtaining
shareholder approval of the Star acquisition, Nukkleus
remains focused on accelerating its transformation and
expanding its portfolio of high-value businesses.
About Nukkleus Inc.
Nukkleus, Inc. (NASDAQ: NUKK) is a Nasdaq company focused on
innovative acquisition companies specializing in identifying,
acquiring, and transforming high-potential businesses across key
sectors, including defense, financial services, real estate,
industrial, and technology. Focused on driving growth, innovation,
and operational excellence, Nukkleus combines strategic investments
with unparalleled expertise to foster collaboration and sustainable
value creation. By leveraging market insights and advanced
solutions, the company accelerates growth and ensures long-term
success for its portfolio businesses, reshaping industries and
delivering measurable returns for stakeholders.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements other than statements of historical facts are
"forward-looking statements" within the meaning of federal
securities laws. In some cases, you can identify forward-looking
statements by terminology such as "will," "would," "expect,"
"intend," "plan," "objective," or comparable terminology
referencing future events, conditions or circumstances, or the
negative of such terms. Although Nukkleus believes that it has a
reasonable basis for the forward-looking statements contained in
this press release, they are based on management's current beliefs
and expectations about future events and circumstances and are
subject to risks and uncertainties, all of which are difficult to
predict and many of which are beyond the Company's control. Risk
factors described under "Risk Factors" in Nukkleus' most recently
filed annual report on Form 10-K, as updated from time to time in
its quarterly reports on Form 10-Q and other filings with the
Securities and Exchange Commission, may cause actual results,
performance or achievements to differ materially from those
expressed or implied by forward-looking statements in this press
release. You are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date on
which they were made. Nukkleus undertakes no obligation to update
any forward-looking statement contained in this press release to
reflect events that occur or circumstances that exist after the
date of this press release, except as required by law
For more information, please contact:
YAIR OHAYON
CMO
Email: y@nukk.com
View original
content:https://www.prnewswire.com/news-releases/nukkleus-expands-its-focus-on-the-defense-sector-strengthens-capital-structure-as-it-takes-initial-steps-toward-star-26-acquisition-302376567.html
SOURCE Nukkleus Inc.
