Nukkleus Inc. Faces Delisting Concerns
Ticker: DFNSW · Form: 8-K · Filed: May 21, 2024 · CIK: 1787518
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: NUKK
TL;DR
Nukkleus Inc. might be delisted - big trouble brewing.
AI Summary
Nukkleus Inc. filed an 8-K on May 21, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The earliest event reported was May 16, 2024. The company was formerly known as Brilliant Acquisition Corp. and is incorporated in Delaware.
Why It Matters
This filing indicates potential issues with Nukkleus Inc.'s continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading and overall financial health.
Key Players & Entities
- Nukkleus Inc. (company) — Registrant
- May 16, 2024 (date) — Earliest event reported
- May 21, 2024 (date) — Date of report
- Brilliant Acquisition Corp. (company) — Former company name
- Delaware (jurisdiction) — State of incorporation
FAQ
What specific listing rule or standard has Nukkleus Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Nukkleus Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on May 16, 2024.
When was this 8-K form filed with the SEC?
This 8-K form was filed with the SEC on May 21, 2024.
What was Nukkleus Inc. formerly known as?
Nukkleus Inc. was formerly known as Brilliant Acquisition Corp.
In which state is Nukkleus Inc. incorporated?
Nukkleus Inc. is incorporated in Delaware.
Filing Stats: 765 words · 3 min read · ~3 pages · Grade level 15 · Accepted 2024-05-21 16:30:21
Key Financial Figures
- $15,000,000 — quirement requires the minimum MVPHS of $15,000,000 and Nasdaq Listing Rule 5810(c)(3)(C) p
- $50,000,000 — equirement requires the minimum MVLS of $50,000,000 and Nasdaq Listing Rule 5810(c)(3)(C) p
Filing Documents
- ea0206595-8k_nukkleus.htm (8-K) — 26KB
- 0001213900-24-045610.txt ( ) — 190KB
- nukk-20240516.xsd (EX-101.SCH) — 3KB
- nukk-20240516_lab.xml (EX-101.LAB) — 33KB
- nukk-20240516_pre.xml (EX-101.PRE) — 22KB
- ea0206595-8k_nukkleus_htm.xml (XML) — 3KB
01 Notice of Delisting or Failure to
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 mini