Nukkleus is acquiring iron dome supplier RIMON in a $26 million strategic defense pivot

JERSEY CITY, NJ, December 17, 2024 /PRNewswire/ – December 17, 2024 – Nukkleus, Inc. (NASDAQ: NUKK), a pioneer in the fintech sector traditionally focused on the Cryptocurrency Market, announced that it has successfully acquired a 51% Majority stake in Star 26 Capital Inc., a defense acquisition holding company 95% Ownership of RIMON. RIMON is a leading Israeli supplier of critical components for the Iron Dome missile defense system and other defense and tactical solutions.

The transaction, which closed on December 15, 2024, included a total purchase price of 26 million dollarsincluding cash, a promissory note nuccleus‘s common shares and warrants to purchase additional common shares of Nukkleus. This acquisition also includes an option agreement that allows Nukkleus to acquire the remaining shares in Star 26 at a later date.

With this acquisition, Nukkleus gains control of RIMON’s diversified operations, which include two key business areas:

Sales of generators, masts and lighting solutions: RIMON acts exclusively Distribution agreements with leading suppliers.

Tactical vehicle development: RIMON designs, engineers and integrates tactical vehicles, including reconnaissance vehicles, mobile command and control units and satellite communications platforms, for special defense forces, intelligence agencies and the Israel Defense Forces (IDF)..

Manny Shalom, the newly appointed CEO of Nukkleus and an experienced security sector entrepreneur, explained “This merger positions Nukkleus at the forefront of a booming defense industry. Our acquisition of Star 26 and RIMON is in line with our strategic direction to capture opportunities in the defense sector, which is experiencing rapid growth due to geopolitical changes in the region Middle East and the war in Ukraine. This has led to an increase in investments and acquisitions in Israeli defense companies such as PARAGON and PROTEGO, alongside a 120% gain weight Israel‘s defense indices and a 38% Rise of similar indices in the USA.”

He added: “RIMON’s expertise in critical defense systems, coupled with its established partnerships with leading defense exporters such as Rafael and Elbit Systems, strengthens Nukkleus.”‘s capabilities in providing innovative defense solutions.”

As part of its expansion strategy, Nukkleus plans to integrate Star 26 operations into its business structure while exploring further growth opportunities. The company also plans to expand its activities to other sectors and act as a commercial bank for corporate banking companies. US real estate and technology-populated coworking space campus locations and leverages its financial expertise to capture new opportunities in the changing Middle East region.

Looking ahead

The combined company will focus on market opportunities in Israel and the US – acquiring a majority stake in mid-sized companies while providing them with financing and global business development opportunities. With a shared commitment to innovation and excellence, Nukkleus and Star are poised to drive growth and create value for shareholders, customers and stakeholders alike.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the expected benefits of the acquisition, expected market trends and future performance. Actual results may vary materially due to various factors. A detailed discussion of these risks can be found in Nukkleus’ filings with the Securities and Exchange Commission (SEC).

Contact:

Yair Ohayon
CMO
[email protected]

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SOURCE Nucleus, Inc.