Nexera unit Fort Technology buys 50.1% stake in Logia USA
NEXR•Fort Technology, majority-owned by Nexera Technologies, bought 50.1% of Logia USA for 132,603 newly issued Fort shares valued at about $125,000. Logia USA received an exclusive, sublicensable U.S. license and a milestone-based credit facility of up to $2 million at 6% interest.
1. Acquisition and license
Fort Technology bought a 50.1% stake in Logia USA, with founder Yair Harel retaining 49.9%. The consideration was 132,603 newly issued Fort common shares valued at about $125,000. Logia USA secured an exclusive, sublicensable U.S. license for Logia Israel’s automated fuel-integrity systems for an initial five-year term.
2. Fees and financing
Logia USA must pay Logia Israel a $125,000 license fee and has liabilities of up to $390,000 to the company. Fort also established a milestone-based credit facility of up to $2 million at 6% interest, maturing August 26, 2029.
