US enterprise Ondas Holdings (Nasdaq: ONDS) declared now that it has entered into a definitive arrangement to obtain Israeli drones methods organization Airobotics (TASE: AIRO). The two providers experienced signed a memorandum of comprehending final month.

Airobotics, which develops autonomous unmanned plane techniques (UAS) and automatic information investigation and visualization platforms, held its IPO on the TASE final summer months at far more than double the valuation it is now obtaining.




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Ondas Holdings reported that each individual issued share of Airobotics will be exchanged for .16806 shares of Ondas typical stock. Ondas expects to difficulty 2.8 million shares as thought to the Airobotics shareholders (excluding about 1.7 million shares underlying possibilities and warrants to be remarkable subsequent the acquisition), implying an acquisition price of $15.2 million. Three decades bfore its IPO, Airobotics was valued at $240 million.

Airobotics finished the very first 50 % of 2022 with revenue of just $544,000, down 66% from the very first fifty percent of 2021, a web decline of $6.5 million, and a ‘going concern’ qualification hooked up to its economic report.

Akerman LLP and Pearl Cohen Zedek Latzer Baratz are serving as authorized counsel to Ondas in the deal, and Herzog Fox & Neeman and Erez Rozenbuch Advocates are serving as legal counsel to Airobotics.

Released by Globes, Israel organization information – en.globes.co.il – on August 8 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


