Summary by Moomoo AI
Nukkleus Inc. has issued a Senior Unsecured Promissory Note worth $515,500 to East Asia Technology Investments Limited on August 1, 2024, receiving cash proceeds of $412,075. The note carries a 12% annual interest rate and matures in six months.As part of the agreement, Nukkleus granted the lender a Stock Purchase Warrant to acquire 1.4 million shares of common stock at $0.25 per share, valid for five years with cash or cashless exercise options. Additionally, the lender has the right to convert both principal and interest into common stock at a conversion price of $0.25 per share.The issuance of both the Note and Warrant, including potential shares from conversion and exercise, is exempt from registration requirements under Rule 4(a)(2) of the Securities Act and Rule 506 of Regulation D, with the lender qualifying as an accredited investor.
