Summary by Moomoo AI
On June 11, 2024, Nukkleus Inc. entered into a series of financial agreements with X Group Fund of Funds. The company issued a Senior Unsecured Promissory Note for $312,500 in exchange for $250,000 in cash proceeds. The note carries a 12% annual interest rate and matures six months from issuance. Additionally, Nukkleus granted the lender a warrant to purchase 1.2 million shares of common stock at $0.25 per share, valid for five years. The lender also has the option to convert the note's principal and interest into common stock at the same price. A Restructuring Agreement was also signed, allowing the lender to extend an additional $500,000 loan under similar terms and giving them advisory rights on potential acquisitions. The company is negotiating the sale of its...Show More