US business Ondas Holdings (Nasdaq: ONDS) declared nowadays that it has entered into a definitive settlement to purchase Israeli drones options company Airobotics (TASE: AIRO). The two organizations had signed a memorandum of understanding past month.

Airobotics, which develops autonomous unmanned aircraft programs (UAS) and automated knowledge analysis and visualization platforms, held its IPO on the TASE last summer at extra than double the valuation it is now receiving.




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Ondas Holdings explained that each issued share of Airobotics will be exchanged for .16806 shares of Ondas common inventory. Ondas expects to challenge 2.8 million shares as thing to consider to the Airobotics shareholders (excluding somewhere around 1.7 million shares fundamental options and warrants to be exceptional adhering to the acquisition), implying an acquisition value of $15.2 million. A few a long time bfore its IPO, Airobotics was valued at $240 million.

Airobotics ended the very first 50 percent of 2022 with profits of just $544,000, down 66% from the very first half of 2021, a net loss of $6.5 million, and a ‘going concern’ qualification connected to its economic report.

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

Printed by Globes, Israel company news – en.globes.co.il – on August 8 2022.

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