Nukkleus Inc. (NasdaqGM:NUKK) announced the signing of a Memorandum of Understanding for 10% stake in Jacobi Asset Management Holdings Limited on January 16, 2024. Prior to the transaction, Nukkleus Inc. (NasdaqGM:NUKK) held 5%. The MOU outlines a framework for Nukkleus to negotiate the acquisition of an additional 10% stake in Jacobi outright, as well as an option to acquire One Hoxton Holding Ltd, which would hold an additional 6% of Jacobi.

This potential acquisition, combined with Nukkleus? existing holdings, would increase Nukkleus? total stake in Jacobi to approximately 20%.

Furthermore, as part of the MOU, Nukkleus has been granted a right of first refusal in these negotiations. The MOU is effective for a period of 90 days and may be extended by mutual agreement in writing. Completion of the proposed acquisition will be subject to successful completion of diligence and the negotiation and execution of definitive agreements.