AeroVironment Inc (AVAV): M&A transaction — AeroVironment closes $120M acquisition of Tomahawk Robotics in cash and stock

AeroVironment Inc

Total purchase price of $120 million, paid as $23.5M cash plus 985,999 restricted shares of AVAV common stock.
Tomahawk Robotics is a leader in AI-enabled robotic control and integrated communications systems.
Kinesis AI control system to be integrated with AeroVironment unmanned platforms; Tomahawk becomes part of Small UAS unit.
AeroVironment plans to support existing Tomahawk customers and offer solutions to its 55+ allied nations customer base.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

AeroVironment Inc completed an acquisition involving Tomahawk Robotics, Inc. for approximately $23.5 million in cash (closed 2023-09-15).

Action: acquisition
Counterparty: Tomahawk Robotics, Inc.
Consideration: approximately $23.5 million in cash
Closing: 2023-09-15

Exact text from the filing

at the Effective Time: · each outstanding share of capital stock of Tomahawk was converted into the right to receive a pro rata percentage of an aggregate of approximately $23.5 million in cash (subject to adjustment following the closing of the Merger (the “Closing”) for Tomahawk’s net working capital at the Closing and for certain indemnification obligations)

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AeroVironment Inc filing history →

Source: SEC EDGAR

accession 0001104659-23-101412

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