Nukkleus Inc. (NASDAQ:NUKK) shares are trading higher premarket today. On Wednesday, the company disclosed the pricing of a private placement with a single New York-based family office investor.

The transaction is expected to generate $10.0 million in gross cash proceeds before deducting fees to the placement agent and other offering expenses.

The company plans to use the net proceeds to finance the proposed acquisition of Star 26 Capital Inc., which holds a 95% stake in RIMON. The remaining funds are projected to be allocated for general corporate purposes and working capital.

RIMON is an Israeli supplier of critical components for the Iron Dome missile defense system and a developer of tactical vehicles for defense and intelligence agencies.

In connection with the private placement, Nukkleus, Inc. plans to issue an aggregate of 1.66 million units, with each unit priced at $6.00.

Each unit will consist of one share of restricted common stock (or one pre-prefunded warrant to purchase a share of restricted common stock) and warrants exercisable for one and one-half shares of restricted common stock at $6.00 per share.

The offering is priced above the market in accordance with Nasdaq rules. The private placement is expected to close on or about December 19, 2024, subject to the satisfaction of certain customary closing conditions.

Price Action: NUKK shares are up 29.9% at $65.98 premarket at the last check Thursday.

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