Nukkleus Inc. Faces Delisting Concerns
Ticker: DFNSW · Form: 8-K · Filed: May 30, 2024 · CIK: 1787518
Sentiment: bearish
Topics: delisting, listing-rules, regulatory
Related Tickers: NUKK
TL;DR
NUKK might get delisted - big trouble ahead.
AI Summary
Nukkleus Inc. filed an 8-K on May 30, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company, formerly known as Brilliant Acquisition Corp., is incorporated in Delaware and has its principal executive offices in Jersey City, NJ.
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 directly threatens the company's ability to remain publicly traded, posing a significant risk to its operations and investors.
Key Players & Entities
- Nukkleus Inc. (company) — Registrant
- Brilliant Acquisition Corp. (company) — Former company name
- May 29, 2024 (date) — Earliest event reported date
- May 30, 2024 (date) — Date of report
- Jersey City, NJ (location) — Business address
FAQ
What is the specific reason for Nukkleus Inc.'s potential delisting?
The filing is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing,' but the specific rule or standard not met is not detailed in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 29, 2024.
What was Nukkleus Inc. formerly known as?
Nukkleus Inc. was formerly known as Brilliant Acquisition Corp.
Where are Nukkleus Inc.'s principal executive offices located?
Nukkleus Inc.'s principal executive offices are located at 525 Washington Blvd., Jersey City, NJ.
What is the SEC file number for Nukkleus Inc.?
The SEC file number for Nukkleus Inc. is 001-39341.
Filing Stats: 784 words · 3 min read · ~3 pages · Grade level 14.6 · Accepted 2024-05-30 16:30:11
Key Financial Figures
- $0.0001 — ge on which registered Common Stock, $0.0001 par value per share NUKK The Nasdaq
- $11.50 — sable for one Share of Common Stock for $11.50 per share NUKKW The Nasdaq Stock Ma
- $1.00 — e Company's common stock had been below $1.00 per share for 35 consecutive business d
- $15 million — e Company's common stock had been below $15 million for 30 consecutive business days, and t
- $50 million — e Company's common stock had been below $50 million for 33 consecutive business days, and t
Filing Documents
- ea0207077-8k_nukkleus.htm (8-K) — 32KB
- 0001213900-24-048011.txt ( ) — 246KB
- nukk-20240529.xsd (EX-101.SCH) — 4KB
- nukk-20240529_def.xml (EX-101.DEF) — 26KB
- nukk-20240529_lab.xml (EX-101.LAB) — 36KB
- nukk-20240529_pre.xml (EX-101.PRE) — 25KB
- ea0207077-8k_nukkleus_htm.xml (XML) — 6KB
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 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: 1. 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. 2. 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. 3. 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 li