Aibotics agrees to acquire Empulser in deal valued up to $22 million
AIBT•Aibotics agreed to acquire all of Empulser for up to 2.2 million Series C preferred shares with an aggregate stated value of $22 million, subject to a 36-month earn-out.
1. Deal terms
Aibotics entered an exchange agreement to acquire 100% of Empulser, making the Wyoming-based business a wholly owned subsidiary at closing. Aibotics will issue 220,000 Series C shares at closing; the remaining shares depend on milestones including patent progress, flight testing and $500,000 in cumulative revenue. Aibotics may also provide up to $2 million in pre-closing loans secured by a first-priority lien on Empulser’s assets.
2. Closing conditions
Closing is subject to conditions, including Empulser delivering audited U.S. GAAP financial statements. Either side can terminate if closing misses deadlines.
