Nukkleus Eyes Bigger Slice Of Jacobi Asset Management, Expanding Footprint In Bitcoin ETF Arena

Nukkleus Inc. NUKK has announced its intention to expand its investment in Jacobi Asset Management, known for sponsoring Europe’s first approved Bitcoin spot ETF. 

Nukkleus signed a Memorandum of Understanding on January 16, 2024, marking a strategic advancement in Nukkleus’ portfolio. 

The MOU sets the stage for Nukkleus to acquire an additional 10% of Jacobi outright potentially. There’s an option to acquire One Hoxton Holding Ltd, adding another 6% stake in Jacobi. Should these acquisitions materialize, Nukkleus’ total ownership in Jacobi could rise to approximately 20%. The agreement also grants Nukkleus a right of first refusal during these negotiations.

The MOU is effective for a period of 90 days and may be extended by mutual agreement in writing. 

“Increasing our stake in Jacobi Asset Management is a strategic move that aligns with Nukkleus Inc.’s vision of pioneering in the fintech industry. This investment underscores our commitment to leveraging innovative financial tools like blockchain and digital assets to transform and democratize the global financial landscape,” commented Emil Assentato, CEO and Chairman of Nukkleus.

Price Action: NUKK shares were trading lower by 3.47% at $1.44 on the last check Wednesday. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.