Nukkleus Inc.: debt financing — Nukkleus issues $270K promissory note to CEO at 5%; proceeds used to pay related-party debt.

Nukkleus Inc.

On Sept 18, 2023, Nukkleus issued a $270,000 promissory note to CEO Emil Assentato at 5% interest, due Sept 18, 2026.
Proceeds of $245,000 used to reduce debt owed to FX Direct Dealer LLC, a wholly owned subsidiary of Currency Mountain Holdings.
Approved by non-interested board members; CEO directly owns ~85% of Max Q, which owns 80% of Currency Mountain Holdings.

item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Nukkleus Inc. incurred loan of $270,000 with Emil Assentato at 5.0% per annum maturing September 18, 2026.

Instrument: loan
Principal: $270,000
Counterparty: Emil Assentato
Rate: 5.0% per annum
Maturity: September 18, 2026
Event: incurrence

Exact text from the filing

On September 18, 2023, Nukkleus Inc. (the “ Company ”) issued a promissory note (the “ Note ”) in the principal amount of $270,000 to Emil Assentato in consideration of cash proceeds in the amount of $270,000. The Note bears interest of 5.0% per annum and is due and payable on September 18, 2026.

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Source: SEC EDGAR

accession 0001213900-23-078794

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