GP-Act III SPAC to merge with drone maker Dronamics, targeting $400 M valuation and $100 M cash
GP-Act III Acquisition Corp. (GPAT) and Dronamics have signed a definitive business combination agreement. The transaction values Dronamics at a $400 million pre‑money equity price, implying a roughly $500 million pro‑forma enterprise value. It is structured to deliver about $100 million of net cash to Dronamics at closing, subject to a minimum cash condition of $25 million, and is expected to close in the first half of 2027.
Why it matters
The merger will provide Dronamics with the cash needed to scale production of its Black Swan cargo drone and to expand operations, while giving GPAT shareholders equity in a company positioned in the growing autonomous logistics and defense markets. The deal also adds a new aerospace asset to the Nasdaq, potentially increasing market interest in European drone startups.
Key facts
- 1The business combination values Dronamics at a $400 million pre‑money equity value and an estimated $500 million pro‑forma enterprise value. suasnews.com
- 2The transaction is targeted to provide approximately $100 million in net cash proceeds to Dronamics at closing, after expenses. suasnews.com
- 3A minimum cash condition requires at least $25 million to be added to Dronamics’ balance sheet at closing, net of transaction expenses. suasnews.com
- 4Eligible Dronamics security holders will receive 40 million shares of GP‑Act III upon completion. tradingview.com
- 5The combined company is expected to be listed on Nasdaq, with the transaction slated to close in the first half of 2027, subject to shareholder and regulatory approvals. suasnews.com
- 6GPAT’s trust account holds about $99.4 million, down from $287.5 million at its 2024 IPO. techfundingnews.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.