VWAV•VisionWave signed a nonbinding letter of intent to acquire 51% of Ukrainian drone developer EPSERVICE from MMC for $7 million. Payment would be due 90 days after closing and funded through future financing that has not been arranged.
VisionWave signed a nonbinding letter of intent to acquire a 51% stake in Ukrainian drone developer EPSERVICE from MMC for $7 million. The cash payment would be due 90 days after closing and funded through future financing transactions that have not been arranged. The proposed deal requires satisfactory due diligence, a live flight demonstration in Ukraine and board approval; the parties target a definitive agreement within 45 days and closing within 30 days after that, capped at 120 days.
