Nexera Technologies agrees to sell KeepZone AI for up to $6 million
NEXR•Nexera Technologies agreed to sell wholly owned KeepZone AI to a global aerospace and defense company for up to $6 million. The buyer will pay $1 million at closing in common stock and, if required, pre-funded warrants, with a cash earn-out capped at $5 million.
1. Sale terms
The buyer will pay $1 million at closing in common stock and, if required, pre-funded warrants. KeepZone AI’s additional cash earn-out will equal 50% of its positive cumulative after-tax net profit over the 24 months following closing, capped at $5 million; any payment is due within 90 days after that period ends.
2. Expected closing
Closing is expected on the second business day after closing conditions are satisfied or waived, unless the parties agree otherwise.
