SaverOne To Purchase 33% Stake In Italian Aviation And Defense Tech Firm Gryphen Aircraft Industries For €5M
SaverOne 2014 Ltd. (NASDAQ: SVRE, TASE: SVRE))) today announced that it has entered a non-binding term sheet for a strategic investment in Gryphen Aircraft Industries Srl ("Gryphen"), an Italian aviation and defense technology company Developing a NATO Class-3 & US Group-5 Medium/High Altitude Long Endurance (MALE) Remotely Piloted Military Aircraft Systems (RPAS/UAV), based on existing civilian aircraft platforms. The proposed transaction represents an important step in SaverOne’s strategic expansion into the defense and security markets, following its previously announced strategic transaction with VisionWave Holdings, Inc (NASDAQ: VWAV ). Under the terms of the non-binding term sheet, SaverOne will initially invest €5.0 million in Gryphen in exchange for 33.3% of Gryphen’s fully diluted share capital, subject to due diligence, the execution of definitive agreements and customary cl...
SaverOne 2014 Ltd. (NASDAQ: SVRE, TASE: SVRE))) today announced that it has entered a non-binding term sheet for a strategic investment in Gryphen Aircraft Industries Srl ("Gryphen"), an Italian aviation and defense technology company Developing a NATO Class-3 & US Group-5 Medium/High Altitude Long Endurance (MALE) Remotely Piloted Military Aircraft Systems (RPAS/UAV), based on existing civilian aircraft platforms.
The proposed transaction represents an important step in SaverOne’s strategic expansion into the defense and security markets, following its previously announced strategic transaction with VisionWave Holdings, Inc (NASDAQ: VWAV ).
Under the terms of the non-binding term sheet, SaverOne will initially invest €5.0 million in Gryphen in exchange for 33.3% of Gryphen’s fully diluted share capital, subject to due diligence, the execution of definitive agreements and customary closing conditions.
Subject to various milestones, SaverOne will increase the investment to €8.33 million and finally have the right, exercisable within 24 months following closing but not earlier than nine months following closing, to increase its ownership in Gryphen to 53% based on Euro €30 million valuation.
Gryphen combines an established aviation manufacturing base with an advanced Remotely Piloted Aircraft System (RPAS) and Optionally Piloted Aircraft (OPV/OPA) advanced development program.
Gryphen has over 30 years of aviation heritage, an existing 4,000 sqm production facility and over 1,000 aircraft manufactured aircraft over that period.
Building on this strong industrial foundations, Gryphen is developing a complete remotely piloted aircraft system designed to convert existing civilian aircraft into reliable, Medium/High Altitude Long-Endurance (MALE) and cost-effective military platforms with high payload capacity for diversified missions.
SaverOne’s investment is intended to accelerate the development, system integration, testing and commercialization efforts, targeting the growing military and tactical UAV market, where industry estimates project the global UAV market to reach approximately $40.6 billion by 2030 while the strategic and MALE UAV segment will hold a significant share.