Welcome to our dedicated page for Isramco news (Ticker: ISRL), a resource for investors and traders seeking the latest updates and insights on Isramco stock.
Israel Acquisitions Corp (NASDAQ: ISRL) is a special purpose acquisition company formed to pursue a business combination with one or more businesses, with a stated focus on high‑growth technology companies connected to Israel. The ISRL news feed highlights key developments in its search for and execution of a qualifying transaction, as well as important updates on its Nasdaq listing status and shareholder actions.
Recent news has centered on Israel Acquisitions Corp’s definitive business combination agreement with Gadfin Ltd., an Israeli technology company specializing in all‑weather, long‑range, heavy‑duty drone delivery for essential cargo. Press releases describe Gadfin’s hydrogen fuel cell‑powered unmanned aerial vehicles and the planned structure under which a new Israeli holding company (NewPubco) would own both Gadfin and Israel Acquisitions Corp following the mergers. Earlier headlines covered the company’s prior agreement with Pomvom Ltd., a technology company serving the global amusement parks and attractions market, and the subsequent mutual termination of that transaction.
In addition to transaction announcements, ISRL news items include information on extension votes, trust agreement amendments, advisory arrangements, and Nasdaq correspondence. For example, filings and related communications discuss a Nasdaq deficiency notice regarding market value of listed securities and a later Nasdaq press release announcing the planned delisting of ISRL’s shares, units, and warrants, with effectiveness expected after the filing of a Form 25.
Investors and observers can use this news page to follow material events affecting Israel Acquisitions Corp, including progress on the Gadfin business combination, changes to its corporate structure and timelines, and regulatory developments around its exchange listing. Reviewing both press releases and SEC‑related news items provides context on how the SPAC is managing its transaction pipeline and shareholder considerations.
Israel Acquisitions Corp (NASDAQ: ISRL) and Gadfin have entered into a definitive business combination agreement valued at up to $200 million USD. The merger will bring Gadfin, an Israeli technology company specializing in all-weather, long-range, heavy-duty drone delivery systems, to Nasdaq.
The combined company will leverage Gadfin's patented hydrogen fuel cell-powered unmanned aerial vehicles technology for delivering medical supplies and heavy-duty cargo in both civil applications and combat zones. The transaction, expected to complete in the second half of 2025, includes a minimum net cash condition of $15 million and will establish a seven-member staggered Board of Directors.
Key terms include a 6-month lock-up agreement for major shareholders and company insiders, followed by a gradual release mechanism. The boards of both companies have unanimously approved the agreement and signed voting support agreements.
Israel Acquisitions Corp. (NASDAQ: ISRL) has signed a non-binding letter of intent for a proposed business combination with Gadfin Aero-Logistics Systems, an Israeli technology company specializing in all-weather unmanned aerial delivery for necessary cargo such as medical supplies. Gadfin's patented technology uses Hydrogen Fuel cell-powered unmanned aerial vehicles capable of delivering cargo to long-range destinations in harsh weather conditions, improving logistics in both combat zones and civil applications.
Izhar Shay, Executive Chairman of Israel Acquisitions Corp., highlighted the potential of Gadfin's technology to revolutionize the speed of delivery for medical supplies and important cargo, including in high-risk areas. Eyal Regev, Gadfin CEO, expressed excitement about the partnership and the opportunity to accelerate production and bring new models to market. The definitive Business Combination Agreement is expected to be announced in the fourth quarter of 2024.
Israel Acquisitions Corp (NASDAQ: ISRL) and Pomvom (TASE: PMVM) have mutually terminated their Business Combination Agreement due to changing global market conditions. The decision was announced on August 22, 2024, with both parties agreeing to waive any claims against each other, except for violations of the Termination Agreement or confidentiality obligations.
The chairmen of both companies stated that the current state of capital markets does not allow the transaction to proceed under the originally agreed financial parameters. To avoid additional expenses for both parties, they decided to terminate the deal in good spirit.
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