Nukkleus announced that it had taken the majority ownership in the sponsor of a newly formed special purpose acquisition company named SC II.
Nukkleus (NUKK) became the top trending ticker on Stocktwits on Friday after its shares fell nearly 15% in afternoon trading following the announcement that it had taken the majority ownership in the sponsor of a newly formed special purpose acquisition company (SPAC) named SC II Acquisition Corp.
SC II filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission on Thursday, stating that it intends to raise $150 million through the sale of its units. Each unit comprises a Class A ordinary share and one right to receive a fifth of a Class A ordinary share, upon the consummation of an initial business combination, the company stated in its filing.
Nukkleus added that SC II intends to list its units to be issued on the Nasdaq Global Market under the symbol “SCIIU”.
While SC II has been formed with the purpose of effecting a merger, business combination, share or asset acquisition, the company stated that it has not selected any business combination target yet.
Get updates to this developing story directly on Stocktwits.<
For updates and corrections, email newsroom[at]stocktwits[dot]com.<