Nukkleus Inc. has announced the signing of a Memorandum of Understanding (MOU) yesterday (Tuesday), outlining plans for a significant increase in its holdings in Jacobi Asset Management. The collaboration with Jacobi, recognized as the sponsor of Europe's exclusive regulated and approved Bitcoin spot ETF traded on Euronext, reflects Nukkleus' participation in innovative financial markets.
Nukkleus Negotiates Increased Stake in Jacobi
The MOU charts a course for Nukkleus to negotiate the acquisition of an additional 10% stake in Jacobi, as well as an option to acquire One Hoxton Holding Ltd, retaining an additional 6% of Jacobi.
If successfully completed, this acquisition, combined with Nukkleus' existing holdings, would elevate its total stake in Jacobi to approximately 20%. Additionally, Nukkleus has been granted a right of first refusal as part of these negotiations.
Emil Assentato, the CEO and Chairman of Nukkleus, emphasized the strategic nature of this move: "Increasing our stake in Jacobi Asset Management is a strategic move that aligns with Nukkleus Inc.'s vision of pioneering in the fintech industry." Assentato highlighted the company's dedication to leveraging innovative financial tools such as blockchain and digital assets to transform and democratize the global financial landscape.
This move broadens Nukkleus' reach into innovative financial markets, complementing its existing diverse portfolio that includes breakthrough technologies in blockchain-powered payment solutions and digital asset management. Assentato expressed a proactive approach to shaping the future of finance, making it more accessible, efficient, and inclusive.
NUKKLEUS- MOU SETS STAGE FOR NUKKLEUS TO BUY ADDITIONAL 16% IN JACOBI, ELEVATING TOTAL HOLDINGS TO ABOUT 20% #News #Markets #live
— Capital Hungry (@Capital_Hungry) January 17, 2024
MOU Terms: 90-Day Effectiveness and Extension Options
TheMOU has a 90-day effectiveness period and may be extended by mutual agreement in writing. The completion of the proposed acquisition is subject to successful diligence completion and the negotiation and execution of definitive agreements, emphasizing a meticulous approach to the partnership.
Martin Bednall, the CEO of Jacobi Asset Management, echoed the enthusiasm: "We are excited by the prospect of deepening our relationship with Nukkleus through this MOU, supporting the growth of Jacobi." Bednall emphasized the mutual commitment to innovation in the fintech sector and sees the potential increase in Nukkleus' stake in Jacobi as a significant milestone towards collaborative development and the advancement of regulated financial solutions.
This article was written by Tareq Sikder at www.financemagnates.com.
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