GP-Act III agrees to combine with Dronamics
GPAT•Dronamics agreed to combine with GP-Act III Acquisition at a $400 million fully diluted pre-money equity valuation. The deal implies about $500 million in pro forma enterprise value and targets approximately $100 million in net proceeds.
1. Deal terms
Dronamics agreed to combine with GP-Act III Acquisition at a $400 million fully diluted pre-money equity valuation, implying approximately $500 million in pro forma enterprise value. Existing Dronamics shareholders are expected to roll over 100% of their equity. The transaction targets approximately $100 million in net proceeds from PIPE financing and trust cash, subject to shareholder redemptions and PIPE commitments.
2. Expected listing
The deal is expected to close in the first half of 2027, subject to shareholder approval, other conditions and minimum net cash of $25 million. The combined company expects to list on Nasdaq, with proceeds supporting Black Swan aircraft production, commercial operations and expansion.
