What's Going On With Nukkleus Shares Today?

Nukkleus Inc. NUKK shares are trading lower in the premarket session on Wednesday, after surging over 55% on Tuesday. 

The company has signed a term sheet for the acquisition of Mercury Global, a cross-border payments firm with operations in London and South Africa. 

This significant step marks Nukkleus’ strategic move to further strengthen its presence in the dynamic world of cross-border payments.

According to a recent Schedule 13G filing with the United States Securities and Exchange Commission (SEC), Goldman Sachs Group, Inc. GS holds a 7.2% passive stake in Nukkleus as of December 29, 2023.

Recent announcements from Nukkleus include the signing of an MOU to increase their stake in Jacobi Asset management (Europe’s first spot bitcoin ETF) and a substantial payments partnership in Africa.

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.

Price Action: NUKK stock is down 18.4% at $1.60 premarket Wednesday.