AEVEX closes $600M acquisition of BlackSea Technologies, adds maritime unmanned systems

AEVEX Corp.

• Total enterprise value $600M; paid in $350M stock (12.7M shares) plus cash, with $5M escrow adjustment.
• Up to $50M contingent consideration if AVEX hits $28 VWAP and BlackSea meets revenue/gross profit targets.
• BlackSea becomes AEVEX Maritime Systems division led by Bob Pudney; 350+ USVs delivered, 25,000+ operational hours.
• BlackSea Baltimore plant adds ~40 USVs/month capacity; combined co. has 10,000+ systems and 114% YoY Q2 production growth.
• Financial statements and pro forma info to be filed within 71 days via 8-K amendment.