T3 Defense Inc.
(NASDAQ:DFNS) stock plunged Friday after the company announced it had acquired a 60% stake in Israeli drone and counter-UAV developer Project35, expanding its portfolio of mission-critical defense technologies.
Project35 counts Israel Aerospace Industries (IAI), ELTA Systems, Rafael Advanced Defense Systems, Elbit Systems and the Israel Ministry of Defense among its customers, according to the company.
T3 Defense Acquires Majority Stake in Project35 The company said Friday it acquired a 60% stake in Israeli drone and counter-UAV developer Project35 through 21,059,871 common shares and a $1.25 million promissory note carrying a 12% interest.
The deal expands T3 Defense's portfolio with heavy-lift cargo drones, VTOL aircraft, AI-guided tactical FPV systems and an autonomous drone interceptor that recently completed successful live-fire trials.
