VisionWave says 51% CM Composite Materials deal remains pending, conditions unmet
VWAV•Transaction terms and financing
The deal terms call for 250,000 VisionWave common shares valued at USD 2.5 million for 51% of CM’s equity.
A loan facility of up to USD 5 million at 12% simple interest would be secured by a first-priority lien on substantially all CM assets.
A side letter commits at least USD 5 million of funding to CM, including USD 3.5 million for a new facility outside Israel.
Deal remains unsigned and unclosed
VisionWave’s proposed purchase of 51% of Israel-based C.M. Composite Materials remains unsigned and has not closed.
Closing still hinges on definitive joint venture agreements with Belrise Industries being executed and in force.
