Nexus Advanced Technologies signs exclusivity for proposed $500 million reverse merger
NXAT•Nexus Advanced Technologies signed an exclusivity agreement for a proposed reverse merger with a U.S. defense technology company, with a proposed target valuation of about $500 million. The deal could give target shareholders majority ownership of Nexus; the target has non-binding letters of intent for potential projects with an aggregate indicated value of $7 billion.
1. Proposed merger terms
Nexus Advanced Technologies signed an exclusivity agreement for a proposed reverse merger with a U.S. defense technology company. The target’s proposed valuation is about $500 million, and the deal could result in a change of control of Nexus, with target shareholders acquiring majority ownership.
2. Potential projects
The target has received non-binding letters of intent for potential projects with an aggregate indicated value of $7 billion.
