AcquisitionsAug 10, 2026, 08:04 AM
Byrna Technologies Completes Acquisition of Hero Defense Systems
AI Summary
Byrna Technologies Inc. announced the completion of its acquisition of substantially all assets of Hero Defense Systems, LLC on August 6, 2026. The consideration for the acquisition included $625,000 in cash, 104,000 shares of Byrna's common stock, the assumption of certain liabilities, and a royalty of 3.5% on net sales of Hero's products. The stock consideration was issued as restricted securities, exempt from registration, and is subject to a six-month lock-up period.
Key Highlights
- Byrna Technologies completed the acquisition of Hero Defense Systems on August 6, 2026.
- The acquisition involved $625,000 in cash consideration, with $125,000 placed in escrow.
- 104,000 shares of Byrna's common stock were issued as part of the consideration.
- A royalty of 3.5% of net sales of Hero's products is payable, with a guaranteed minimum of $250,000.
- The royalty is capped at $5,000,000 or the fifth anniversary of the closing date.
- The issued shares are restricted securities, exempt from registration under Section 4(a)(2) of the Securities Act.
- The stock consideration is subject to a six-month lock-up period and other transfer restrictions.
Price Impact
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