Form 8-K - Current report
May 21 2024 - 4:30PM
Edgar (US Regulatory)
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0001787518
0001787518
2024-05-16
2024-05-16
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 16, 2024
NUKKLEUS INC.
(Exact name of registrant as specified in its charter)
Delaware |
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001-39341 |
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38-3912845 |
(State or other jurisdiction of
incorporation or organization) |
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(Commission File Number) |
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(IRS Employer
Identification Number) |
525 Washington Blvd.
Jersey City, New Jersey 07310
(Address of principal executive offices)
212-791-4663
(Registrant’s telephone number, including
area code)
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Not applicable |
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
Item 3.01 Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
May 16, 2024, Nukkleus Inc. (the “Company”) received two notification letters (the “Notification Letters”) from
The Nasdaq Stock Market (“Nasdaq”) that the Company is not in compliance with the minimum Market Value of Publicly Held Shares
(the “MVPHS”) for continued listing on the Nasdaq Global Market as set forth in Nasdaq Listing Rule 5450(b)(3)(C)
(the “MVPHS Requirement”). Additionally, the Notification Letters provided that the Company is also no longer in compliance
with the minimum Market Value of Listed Securities (“MVLS”) required for continued listing on the Nasdaq Global Market as
set forth in Nasdaq Listing Rule 5450(b)(2)(A) (the “MVLS Requirement”).
The
Notification Letters have no immediate effect on the listing or trading of the Common Stock on Nasdaq and, at this time, the Common Stock
will continue to trade on Nasdaq under the symbol “NUKK.”
The
MVPHS Requirement requires the minimum MVPHS of $15,000,000 and Nasdaq Listing Rule 5810(c)(3)(C) provides that a failure
to meet the minimum MVPHS Requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the MVPHS
of the Common Stock between April 1, 2024 and May 15, 2024, the Company no longer meets the minimum MVPHS Requirement. The Notification
Letters provide that the Company has 180 calendar days, or until November 12, 2024, to regain compliance with MVPHS Requirement. To regain
compliance, the minimum MVPHS must be at least $15,000,000 or more for a minimum of 10 consecutive business days.
The
MVLS Requirement requires the minimum MVLS of $50,000,000 and Nasdaq Listing Rule 5810(c)(3)(C) provides that a failure
to meet the minimum MVLS Requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the MVLS
of the Common Stock between April 1, 2024 and May 15, 2024, the Company no longer meets the minimum MVLS Requirement. The Notification
Letters provide that the Company has 180 calendar days, or until November 12, 2024, to regain compliance with the MVLS Requirement. To
regain compliance, the minimum MVLS must be at least $50,000,000 or more for a minimum of 10 consecutive business days.
The
Company intends to actively monitor its MVLS and MVPHS and may, if appropriate, consider implementing available options to regain compliance.
There can be no assurance that the Company will be able to regain compliance with the MVPHS Requirement or the MVPHS Requirement, or maintain
compliance with any other listing requirements, or satisfy the requirements necessary to transfer the listing of its Common Stock to the
Nasdaq Capital Market.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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NUKKLEUS INC. |
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Date: May 21, 2024 |
By: |
/s/ Emil Assentato |
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Name: |
Emil Assentato |
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Title: |
Chief Executive Officer |
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