VisionWave Holdings Inc. (NASDAQ: VWAV) announced a definitive agreement to acquire a 51% controlling interest in C.M. Composite Materials Ltd., a certified aerospace‑grade composite manufacturer that supplies structural components for systems such as Iron Dome and Barak 8. The deal will be financed with 250,000 shares of VisionWave common stock, valued at $2.5 million, and a secured loan facility of up to $5 million at a 12% annual interest rate.
C.M. Composite Materials reported approximately $17.3 million in revenue and $3.0 million in net income before tax for fiscal year 2025 (unaudited). An independent valuation by BDO Consulting Group dated January 1 2026 placed the company at $50 million. The acquisition gives VisionWave access to a proven aerospace manufacturing partner with established relationships in key defense supply chains.
The strategic rationale centers on combining VisionWave’s QSpeed™ computational‑acceleration platform with C.M.’s manufacturing capabilities to create a vertically integrated defense‑industrial platform. The partnership is expected to accelerate production of advanced aerospace components, leverage C.M.’s existing relationships in the Iron Dome and Barak 8 supply chains, and position VisionWave to pursue opportunities in India under the “Make in India” initiative.
VisionWave’s own financial profile shows liquidity constraints, with a current ratio of 0.26 as of the last twelve months ending Q1 2026. The company had previously advanced approximately $1.1 million to C.M. between December 2025 and February 2026, and has also entered into a $10 million statement of work for its qSpeed‑Mine Bitcoin mining acceleration platform. The equity issuance and loan underscore VisionWave’s commitment to the partnership while reflecting its need for additional working capital.
The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions and regulatory approvals. The deal expands VisionWave’s technology portfolio into the high‑barrier aerospace manufacturing sector and strengthens its position within the defense industrial ecosystem.
The acquisition could enhance VisionWave’s competitive position in the defense sector, but the company’s liquidity challenges and the significant loan component suggest a strategic partnership rather than a cash‑heavy transaction.
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