Nukkleus to acquire Tiltan Software Engineering for ~$14M in cash and stock

T3 Defense Inc.

Purchase price of NIS 47.6M (~$14M): 75% cash in six installments over 180 days, 25% Nukkleus common stock at settlement.
Tiltan provides AI defense software including GPS-denied navigation (T-BAT), real-time tracking (T-TRACK), and 3D mapping (AGM).
Closing conditions include Israeli regulatory approval and PCAOB-audited financials for Tiltan fiscal years 2023-2024.
Retention program of NIS 2.5M in cash and Nukkleus stock options allocated to Tiltan employees, CEO determines allocations.
Nukkleus formed subsidiary Nukkleus Defense AI Applications to commercialize Tiltan's defense software products.

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