---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-22-017550"
form_type: "8-K"
ticker: "DRS"
cik: "0001833756"
company_name: "Leonardo DRS, Inc."
filed_at: "2022-06-21T23:59:59+00:00"
generated_at: "2026-06-25T00:33:42.011673+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Leonardo DRS to acquire RADA Electronic in all-stock merger; RADA holders to get 19.5% of combined entity

## Summary
- All-stock merger: each RADA ordinary share exchanges for 1 share of Leonardo DRS common; pro forma ownership: Leonardo SpA 80.5%, RADA shareholders 19.5%.
- RADA termination fee of $40M if it accepts superior proposal; DRS termination fee of $40M if Specified Transaction not completed by deadline.
- Transaction expected to close by June 30, 2023, subject to RADA shareholder approval, regulatory approvals, and other conditions.
- Combined company targets low teen Adjusted EBITDA CAGR from 2021 base of $305M; deal expected accretive to RADA EPS in year one.
- RADA's tactical radars to enhance DRS's air defense and force protection offerings; combined company to trade on NASDAQ and TASE under 'DRS'.

## SEC filing metadata
- accession: 0001628280-22-017550
- form_type: 8-K
- ticker: DRS
- cik: 0001833756
- company_name: Leonardo DRS, Inc.
- filed_at: 2022-06-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833756/000162828022017550/0001628280-22-017550-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833756/000162828022017550/drs-20220621.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-22-017550
- JSON: https://secwatch.observer/filing/0001628280-22-017550.json
- Plain text: https://secwatch.observer/filing/0001628280-22-017550.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.