Summary by Moomoo AI
On November 8, 2024, Nukkleus underwent significant corporate changes, including three directors' resignations and two new appointments. The company appointed Tomer Nagar and Aviya Volodarsky as independent directors, following the departures of Daniel Marcus, Brian Shwieger, and Nicholas Gregory. Each former director received 46,700 shares of common stock for past services.The company entered multiple financial agreements, including a conversion agreement with X Group Fund of Funds to convert $771,085 debt into 385,542 common shares and warrants for 351,424 shares at $2.00 per share. Additionally, Nukkleus agreed to sell Digital RFQ Limited to Jamal Khurshid, subject to shareholder approval, with payments totaling $206,000 due by November 29, 2024.The Board approved a bylaw amendment reducing stockholder meeting quorum requirements from majority to one-third. While Nukkleus regained compliance with Nasdaq's minimum closing bid price requirement, it remains non-compliant with minimum market value requirements for publicly held and listed securities.
