Nukkleus Eyes Bigger Slice Of Jacobi Asset Management, Expanding Footprint In Bitcoin ETF Arena
Portfolio Pulse from Akanksha Bakshi
Nukkleus Inc. (NASDAQ:NUKK) plans to increase its investment in Jacobi Asset Management, the sponsor of Europe's first approved Bitcoin spot ETF. Nukkleus signed an MOU on January 16, 2024, to potentially acquire an additional 10% of Jacobi and has an option to acquire One Hoxton Holding Ltd for another 6% stake, which could bring its total ownership to around 20%. The MOU includes a right of first refusal and is effective for 90 days, extendable by mutual agreement. NUKK shares dropped 3.47% to $1.44.
January 17, 2024 | 5:04 pm
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Nukkleus Inc. is set to increase its stake in Jacobi Asset Management, potentially acquiring up to 20% ownership. The company's shares fell by 3.47% to $1.44.
The news of Nukkleus expanding its investment in Jacobi Asset Management indicates a strategic move to strengthen its position in the fintech and Bitcoin ETF market. However, the immediate market reaction to the news was negative, with NUKK shares trading lower. This could be due to investor concerns about the costs or risks associated with the acquisition. The short-term impact is likely negative, but the long-term outlook could be positive if the investment enhances Nukkleus' market position.
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