Rada Electronic Industries

NASDAQ:RADA   10:00:17 AM EDT
10.84
-0.40 (-3.52%)
Exchange Changes, Mergers / Acquisitions, Equity Financing / Related

Leonardo U.S. Unit, RADA Agree To An All-Stock Merger

Published: 06/21/2022 05:18 GMT
Rada Electronic Industries (RADA) - Important Strategic Move by Leonardo in Rapidly Growing Force Protection Market: Leonardo Drs and Rada Agree to an All-stock Merger.
Says That Its US Subsidiary Leonardo Drs and Rada Electronic Industries Ltd.
Have Entered Into a Definitive Agreement to Create a Newly Combined Public Company.
The Transaction Also Seizes the Opportunity of Listing Leonardo Drs in the Current Context of Highly Volatile Markets, Thus Delivering on Promises.
Leonardo Drs Will Acquire 100% of Share Capital of Rada in Exchange for 19.5% Equity Ownership to Rada Shareholders in Leonardo Drs.
With Leonardo Maintaining 80.5% in Leonardo Drs Through Its US Subsidiary Leonardo US Holding.
Upon Closing of Transaction, Expected in Fourth Quarter of 2022, Leonardo Drs is Expected to Be Listed on Nasdaq and Tase Under New Ticker Symbol “drs.
”.
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