Leonardo DRS Receives Key Regulatory Approval Associated with RADA Electronic Industries Ltd. Merger
With this key regulatory approval and the previously announced RADA shareholder approval, closing of the transaction is now expected to occur at the end of November or beginning of December, subject to remaining regulatory approvals. Upon closing of the merger, RADA will become a wholly owned subsidiary of DRS, and DRS will trade on the NASDAQ and TASE under the symbol “DRS”.
About Leonardo DRS
DRS is a defense solutions provider, a leading technology innovator, and supplier of integrated products, services and support to military forces, the intelligence community, and defense contractors worldwide. DRS is organized into Advanced Sensor and Computing and
About RADA
RADA is a global defense technology company focused on proprietary radar solutions and legacy avionics systems. The Company is a leader in mini-tactical radars, serving attractive, high-growth markets which include active military protection (SHORAD, C-RAM), counter-UAS missions, critical infrastructure protection and border surveillance.
Forward-Looking Statements
This communication contains statements that constitute “forward-looking statements,” including with respect to the proposed merger of DRS and RADA and its impact, if completed, on the combined company’s business. Forward-looking statements are subject to numerous conditions, many of which are beyond our control. Neither RADA nor DRS undertake any obligation to update these statements, except as required by law.
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RADA Investor Relations Contact
EK Global Investor Relations
+1 212 378 8040
rada@ekgir.com
DRS Investor Relations Contact
+1 949 574 3860
DRS@GatewayIR.com
DRS Media Contact
Vice President, Communications and Public Affairs
+1 571 447 4624
mmount@drs.com
Source: Leonardo DRS