Nukkleus Inc. Faces Delisting Concerns
Ticker: DFNSW · Form: 8-K · Filed: Aug 27, 2024 · CIK: 1787518
| Field | Detail |
|---|---|
| Company | Nukkleus INC. (DFNSW) |
| Form Type | 8-K |
| Filed Date | Aug 27, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50, $1.00, $15 million, $50 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, compliance
Related Tickers: NUKK
TL;DR
NUKK is on notice for failing to meet listing rules - could get booted!
AI Summary
Nukkleus Inc. filed an 8-K on August 27, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard as of August 22, 2024. The company, formerly known as Brilliant Acquisition Corp., is incorporated in Delaware and has its principal business address in Jersey City, NJ.
Why It Matters
This filing indicates potential issues with Nukkleus Inc.'s compliance with stock exchange listing requirements, which could impact its stock's tradability 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 continued trading on an exchange.
Key Numbers
- 001-39341 — SEC File Number (Identifies the company's filing history with the SEC.)
- 38-3912845 — IRS Employer Identification Number (Company's tax identification number.)
Key Players & Entities
- Nukkleus Inc. (company) — Registrant
- August 22, 2024 (date) — Earliest event date
- August 27, 2024 (date) — Filing date
- Brilliant Acquisition Corp. (company) — Former company name
- Delaware (jurisdiction) — State of incorporation
- Jersey City, NJ (location) — Business address
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 it has received a notice regarding such failure.
What is the potential consequence of failing to satisfy a continued listing rule?
The consequence is a potential delisting from the stock exchange or transfer of listing, as indicated by the filing's subject matter.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on August 22, 2024.
What was Nukkleus Inc.'s former company name?
Nukkleus Inc.'s former company name was Brilliant Acquisition Corp.
Where is Nukkleus Inc. incorporated and what is its business address?
Nukkleus Inc. is incorporated in Delaware and its business address is 525 Washington Blvd., Jersey City, NJ.
Filing Stats: 786 words · 3 min read · ~3 pages · Grade level 14.6 · Accepted 2024-08-27 16:31:37
Key Financial Figures
- $0.0001 — nge 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
- ea0212546-8k_nukkleus.htm (8-K) — 31KB
- 0001213900-24-073000.txt ( ) — 245KB
- nukk-20240822.xsd (EX-101.SCH) — 4KB
- nukk-20240822_def.xml (EX-101.DEF) — 26KB
- nukk-20240822_lab.xml (EX-101.LAB) — 36KB
- nukk-20240822_pre.xml (EX-101.PRE) — 25KB
- ea0212546-8k_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 August 22, 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 June 30, 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 October 21, 2024 to submit a plan of compliance to Nasdaq addressing how the Company intends to regain compliance with Nasdaq