Announcement • Jun 01
Nukkleus Receives Notification Letter from Nasdaq Regarding Non-Compliance with Nasdaq Listing Rule 5250(c)(1) Due to its Failure to Timely File its Quarterly Report on Form 10-Q On May 29, 2024, Nukkleus Inc. (the ‘Company’) received a notification letter from the Listing Qualifications Department of the Nasdaq Stock Market (‘Nasdaq’) indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) due to its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (the ‘Form 10-Q’). The notification letter is the latest in a series of notifications from Nasdaq regarding the Company’s non-compliance with certain continued listing requirements, including: Minimum Bid Price Requirement (Nasdaq Listing Rule 5550(a)(2)): The Company previously received a notification letter on May 6, 2024 indicating that the closing bid price for the Company’s common stock had been below $1.00 per share for 35 consecutive business days, and the Company was provided 180 calendar days, or until November 4, 2024, to regain compliance. Minimum Market Value of Publicly Held Shares Requirement (Nasdaq Listing Rule 5450(b)(3)(c)): The Company previously received a notification letter on May 16, 2024 indicating that the Market Value of Publicly Held Shares for the Company’s common stock had been below $15 million for 30 consecutive business days, and the Company was provided 180 calendar days, or until November 12, 2024, to regain compliance. Minimum Market Value of Listed Securities Requirement (Nasdaq Listing Rule 5450(b)(2)(A)): The Company previously received a notification letter on May 16, 2024 indicating that the Market Value of Listed Securities for the Company’s common stock had been below $50 million for 33 consecutive business days, and the Company was provided 180 calendar days, or until November 12, 2024, to regain compliance. The Company has until July 29, 2024 to submit a plan of compliance to Nasdaq addressing how the Company intends to regain compliance with Nasdaq’s listing rules. If the plan is accepted, Nasdaq in its discretion may grant the Company an extension of up to 180 calendar days from the due date of the Form 10-Q, or until November 11, 2024, to evidence compliance. The Company is working diligently to complete and file the Form 10-Q as soon as possible and regain compliance with Nasdaq’s listing rules. However, there can be no assurance that the Company will be able to regain compliance within the prescribed time periods or that Nasdaq will grant the Company any additional extensions. This notification has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Global Market. Announcement • May 09
Nukkleus Receives Notice from the Nasdaq Stock Market Regarding Minimum Bid Price Requirement On May 6, 2024, Nukkleus Inc. received notice from The Nasdaq Stock Market that the closing bid price for the Company’s common stock had been below $1.00 per share for the previous 35 consecutive business days, and that the Company is therefore not in compliance with the minimum bid price requirement for continued inclusion on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). Nasdaq’s notice has no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market. The notice indicates that the Company will have 180 calendar days, until November 4, 2024, to regain compliance with this requirement. The Company can regain compliance with the $1.00 minimum bid listing requirement if the closing bid price of its common stock is at least $1.00 per share for a minimum of ten (10) consecutive business days during the 180-day compliance period. If the Company does not regain compliance during the initial compliance period, it may be eligible for additional time of 180 calendar days to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of the company's publicly held shares and all other Nasdaq initial listing standards, except the bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period. If the Company is not eligible or it appears to Nasdaq that the Company will not be able to cure the deficiency during the second compliance period, Nasdaq will provide written notice to the Company that the Company’s common stock will be subject to delisting. In the event of such notification, the Company may appeal Nasdaq’s determination to delist its securities, but there can be no assurance that Nasdaq would grant the Company’s request for continued listing. The Company intends to actively monitor the minimum bid price of its common stock and may, as appropriate, consider available options to regain compliance with the Rule. There can be no assurance that the Company will be able to regain compliance with the Rule or will otherwise be in compliance with other Nasdaq listing criteria. Announcement • Feb 14
Nukkleus Inc. (NasdaqGM:NUKK) has signed a term sheet to acquire Mercury Foreign Exchange Limited. Nukkleus Inc. (NasdaqGM:NUKK) has signed a term sheet to acquire Mercury Foreign Exchange Limited on February 14, 2024. Under the proposed agreement, Nukkleus is set to acquire the entire issued share capital of Mercury Global, with the purchase price to be settled in a combination of Nukkleus Inc. common stock and cash. The deal includes an initial equity issue at closing, followed by additional earn-out payments in equity and cash. These subsequent payments are contingent upon achieving certain milestones related to business volume and client growth, employee retention, banking relationships, and the successful integration of technology. The transaction is subject to Nukkleus receiving relevant regulatory approvals in the UK. 
