T3 Defense Inc. (NASDAQ:DFNS) ("T3 Defense"), a defense company that acquires and operates mission-critical defense businesses, today announced the acquisition of a 60% stake in Project35, a leading Israeli developer and manufacturer of drones, aerial interceptors and counter-UAV systems for Tier-1 defense customers in Israel and around the world. The acquisition launches T3 Defense into the center of the fast-expanding drone and counter-UAV (C-UAV) armament market, adding field-proven platforms and a new class of autonomous interceptor to its portfolio. The transaction is consistent with T3 Defense's strategy of building a focused portfolio of mission-critical defense technologies aligned with evolving battlefield and homeland security requirements.

Transaction Details

Under the terms of the transaction, T3 Defense acquired its stake in Project35 for 21,059,871 shares of T3 Defense common stock and a 12% promissory note due one day before the anniversary date in the principal amount of $1,250,000. Following closing, T3 Defense expects to work with Project35's management team to support commercialization, production scaling, and expansion into additional customer programs, in addition to investing $2.5 million directly into the company's operations over the next 12 months.

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