AcquisitionsJul 8, 2026, 04:14 PM
Byrna Technologies Acquires HERO Defense Systems Assets for $1.25M
AI Summary
Byrna Technologies Inc. announced it has entered into a definitive asset purchase agreement to acquire substantially all of the assets of HERO Defense Systems, LLC. The acquisition aims to expand Byrna's product portfolio with compact, less-lethal personal defense products, targeting new entry points for consumers. The total purchase price is $1,250,000, consisting of $625,000 in cash and $625,000 in restricted common stock, along with a performance-based royalty. The transaction is expected to close within approximately 30 days, subject to customary closing conditions.
Key Highlights
- Byrna Technologies Inc. to acquire substantially all assets of HERO Defense Systems, LLC.
- Total purchase price is $1,250,000, plus a performance-based royalty.
- Consideration includes $625,000 in cash and $625,000 in restricted common stock.
- Stock consideration based on 60-day VWAP, capped at 104,000 shares.
- Royalty is 3.5% of net sales of specified HERO products, with a guaranteed minimum of $250,000.
- Royalty terminates at $5,000,000 aggregate payments or 5 years post-closing.
- $125,000 cash consideration held in escrow for 18 months for indemnification.
- HERO founders subject to 5-year non-compete and non-solicitation covenants.
Price Impact
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