IM Cannabis signs LOI to buy 51% stake in Poland’s Space Defense Innovations
IMCC•LOI to acquire majority stake in SDI
IM Cannabis entered a non-binding LOI to buy 51% of Poland-based Space Defense Innovations on a fully diluted basis.
SDI distributes BlueBird Aero Systems tactical unmanned aerial systems in Europe through subsidiary BlueAero Group, with exclusivity in Poland.
Proposed consideration and deal terms
Consideration includes IM Cannabis common shares and/or pre-funded warrants, capped so no SDI holder exceeds 19.99% ownership.
Deal terms include a 24-month seller loan at 9% interest with 100% warrant coverage, exercisable at a 25% premium.
IM Cannabis would receive a five-year call option for the remaining SDI shares, board control, and a EUR 2.3 million convertible credit line.
