Nukkleus Targets Bigger Stake in Jacobi Asset Management

Nukkleus Inc. (NASDAQ: NUKK) is set to increase its investment in Jacobi Asset Management, the first company to sponsor Europe’s approved Bitcoin spot ETF.

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

Strategic Expansion Plans Unveiled

The MOU allows Nukkleus to acquire an additional 10% of Jacobi and presents an option to purchase One Hoxton Holding Ltd, which would add another 6% stake in Jacobi. These moves could potentially raise Nukkleus’ total ownership in Jacobi to approximately 20%. Additionally, the agreement grants Nukkleus a right of first refusal during these negotiations, positioning the company for significant growth in the evolving ETF arena.

Strategic Vision and Market Impact

Nukkleus’ CEO and Chairman, Emil Assentato, noted, “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.”

Market Performance

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.