NUKK Stock Gains After New SPAC SC II Sets $10 IPO Price

• Nukkleus said that the initial public offering is expected to close on or about November 28.
• The firm said that, upon closing the initial public offering under a “Sponsor Private Placement Units Purchase Agreement” between SC II and the sponsor company, it will acquire 255,000 units at $10.00 per sponsor unit.
• The company noted that Menachem Shalom, the Chief Executive Officer of Nukkleus, is also serving as the CEO of SC II.

Nukkleus Inc. (NUKK) on Wednesday announced the pricing of the initial public offering of its corporate-sponsored SPAC, SC II Acquisition Corp, at $10 per unit.

Shares of Nukkleus rose nearly 3% in premarket trading, and the stock was the top third-trending ticker on Stocktwits.

The SPAC expects to raise gross proceeds of $150 million in the initial public offering. Each unit will consist of one Class A ordinary share and one right to receive one-fifth of a Class A ordinary share upon the consummation of an initial business combination.

SC II IPO Details

Nukkleus said that SC II units will be listed on the Nasdaq Global Market under the symbol “SCIIU.” The initial public offering is expected to close on or about November 28.

SC Capital II Sponsor LLC is acting as the sponsor of SC II and the company in which Nukkleus is a majority owner.

Nukkleus said that, upon closing the initial public offering, SC Capital II Sponsor LLC will acquire 255,000 units at $10.00 per sponsor unit under a “Sponsor Private Placement Units Purchase Agreement” between SC II and the sponsor company.

The company noted that Menachem Shalom, the Chief Executive Officer of Nukkleus, is also serving as the CEO of SC II.

How Did Stocktwits Users React?

Retail sentiment on Nukkleus improved to ‘extremely bullish’ from ‘bullish’ territory compared to a day ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.

A Stocktwits user expects Nukkleus stock to hit $7.

Shares of Nukkleus have gained nearly 294% in the last 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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