Anastasiia Kotaieva, the Chief Executive Officer of Nukkleus Inc. (NASDAQ:NUKK), has made significant stock acquisitions, according to a recent SEC filing. The company, currently valued at $85.5 million, has seen its stock surge over 3,600% in the past week, with trading volume averaging 4.43 million shares. On November 8, 2024, Kotaieva acquired 319,952 shares of Nukkleus common stock, at a price of $2.41 per share, amounting to a total value of $771,084. Additionally, she acquired a warrant to purchase 351,424 shares at the same price. According to InvestingPro analysis, NUKK's stock generally trades with high volatility and has shown remarkable momentum, with a 910% return over the past six months. InvestingPro subscribers have access to 12 additional key insights about NUKK's performance and valuation metrics.
These transactions are part of a Conversion Agreement with X Group Fund of Funds, where Kotaieva holds ownership through X Group Family of Funds Limited Partnership. This agreement also included the acquisition of 500,000 shares of common stock at $1.39 per share, valued at $695,000, executed on December 16, 2024. The stock currently trades at $40.01, significantly above its 52-week low of $1.30.
In other recent news, Nukkleus, Inc. has made a significant strategic move by acquiring a 51% controlling stake in Star 26 Capital Inc., a key player in the defense sector. This $26 million acquisition marks Nukkleus's entry into the defense industry, diversifying its operations beyond its historical focus on the cryptocurrency market. The merger positions Nukkleus alongside established defense exporters like Rafael and Elbit Systems (NASDAQ:ESLT) and opens up opportunities in banking, U.S. real estate, and technology-populated coworking spaces.
In addition to the acquisition, Nukkleus has seen significant changes in its leadership with Menachem Shalom replacing Jamal Khurshid as CEO. The company also issued Senior Unsecured Promissory Notes totaling $437,500 to X Group Fund of Funds, and sold 138,556 shares of common stock, generating $246,145 in gross proceeds.
However, Nukkleus is currently investigating a potential discrepancy in the number of common stock shares it is required to issue following a recent reverse stock split, as suggested by the Depository Trust & Clearing Corporation. Despite these developments, Nukkleus is grappling with potential delisting from Nasdaq due to compliance issues, including not meeting the minimum bid price and market value requirements. These are the recent developments in the company's ongoing operations.
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