In a strategic move, Nukkleus Inc. (NASDAQ:NUKK), a management consulting services company, has agreed to sell its subsidiary, Digital RFQ Limited (DRFQ), to Jamal Khurshid for £1,000. The transaction, detailed in a Share Purchase Agreement dated December 27, 2024, is contingent upon shareholder approval.
The decision to divest DRFQ aligns with Nukkleus’s objective to refine its focus on the defense sector and is a response to the subsidiary’s consistent financial losses. The sale follows a Settlement Agreement and Release made on November 8, 2024, between Nukkleus, its wholly owned subsidiary Match Financial Limited, and Mr. Khurshid.
Nukkleus’s shift in strategy highlights the company’s efforts to streamline operations and concentrate on more profitable areas. The Share Purchase Agreement was executed as part of a settlement, with the company expressing that the divestiture is in the best interest of its shareholders due to DRFQ’s ongoing net losses.
This report is based on information contained in a recent SEC filing by Nukkleus Inc.
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