Aerospace & Defense

Patriot Industrial Partners Announces Alan Young Joining the Team as Executive Advisor

September 4, 2024 9:30 AM

IRVINE, CA / ACCESSWIRE / September 4, 2024 / Patriot Industrial Partners (Patriot) is expanding its Supply Chain Optimization service offerings with the addition of Alan Young, the former Spirit AeroSystems Chief Procurement Officer and Senior Vice President of Fabrication. This move aligns with Patriot's commitment to enhancing its core business competencies for its Aerospace & Defense (A&D) Industry clients. Patriot Industrial Partners...

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Volatus Launches Volatus Aerospace Europe AS in Norway to Accelerate Its Expansion into the Global Market

September 3, 2024 7:45 AM

Volatus Aerospace Inc. ("Volatus" or the "Company ") (TSXV:FLT)(OTCQX:TAKOF)(Frankfurt:A3DP5Y)(Frankfurt:ABBA.F) ("Volatus" or "the Company") announces the launch of Volatus Aerospace Europe AS based in Norway. The fully owned subsidiary will manage the activities of the group in the region and accelerate access to important markets for aerial solutions in Europe and Africa. Consolidation in the RPAS industry is expected to yield commercial...

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Drone Delivery Canada Corp. and Volatus Aerospace Corp. Complete Previously Announced Merger of Equals

August 30, 2024 1:05 PM

TORONTO, ON / ACCESSWIRE / August 30, 2024 / Drone Delivery Canada Corp. ("Drone Delivery Canada" or the "Company") (TSXV:FLT)(OTCQX:TAKOF)(Frankfurt:A3DP5Y)(Frankfurt:ABBA.F) and Volatus Aerospace Corp. ("Volatus") (TSXV:VOL)(OTCQB:VLTTF) are pleased to announce the successful completion of their merger of equals (the "Merger") announced on May 21, 2024, pursuant to which Drone Delivery Canada acquired all of the issued and outstanding common...

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Safe Pro Group Inc. Completes Initial Public Offering

August 30, 2024 8:00 AM

AVENTURA, FL / ACCESSWIRE / August 30, 2024 / Safe Pro Group Inc. (Nasdaq:SPAI) ("Safe Pro" or the "Company"), a premier provider of artificial intelligence (AI) solutions specializing in drone imagery processing for humanitarian mine-clearing efforts, today announced the closing of its initial public offering of 1,020,000 shares of common stock at a price to the public of $5.00 per share, raising gross proceeds of $5.1 million, before deducting...

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Steele Industries Grabs Spot on Inc. 5000

August 29, 2024 12:05 PM

LAKEWOOD RANCH, FL / ACCESSWIRE / August 29, 2024 / Steele Industries Inc., a leading provider of night vision and thermal optics solutions, has proudly secured a spot on the prestigious Inc. 5000 list of fastest-growing private companies in the southeast region for 2024. Ranked at #55 out #223, the Lakewood Ranch based company celebrates its outstanding achievements, marking its first consecutive year on the Inc. 5000 southeast regional list....

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FLYHT Reports Second Quarter 2024 Results

August 28, 2024 9:30 PM

FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") today reported financial results for the second quarter ended June 30, 2024 ("Q2 2024"). All figures are Canadian dollars unless otherwise stated. Financial Summary Three Months Ended June 30 Six Months Ended June 30 2024 2023 Inc./ Dec. 2024 2023 Inc./ Dec. Revenue $ 4,311,999 $ 6,043,543 -29 % $ 9,102,593 $ 10,800,773 -16 % SaaS 2,707,667 ...

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Safe Pro Group Inc. Announces Pricing of its Initial Public Offering on Nasdaq

August 28, 2024 9:05 AM

AVENTURA, FL / ACCESSWIRE / August 28, 2024 / Safe Pro Group Inc. (NASDAQ:SPAI) ("Safe Pro" or the "Company"), a premier provider of artificial intelligence (AI) solutions specializing in drone imagery processing for humanitarian mine-clearing efforts, today announced the pricing of its initial public offering of 1,020,000 shares of common stock at a price to the public of $5.00 per share, raising gross proceeds of $5.1 million, before deducting...

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Scribble Maps Integrates Earth Observation Data Into Its Platform With SkyWatch BUILD

August 28, 2024 7:00 AM

TORONTO, ON / ACCESSWIRE / August 28, 2024 / Scribble Maps, a leading online mapping tool known for its user-friendly interface and robust feature set, is thrilled to announce the successful integration of Earth observation data into its platform. This enhancement, powered by SkyWatch's BUILD application, brings a new dimension of geospatial intelligence to Scribble Maps, enabling users across various industries to access and use up-to-date...

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Unusual Machines to Participate at the H.C. Wainwright 26th Annual Global Investment Conference September 9th-11th, 2024

August 27, 2024 9:00 AM

Unusual Machines, Inc. (NYSE American:UMAC) ("Unusual Machines" or the "Company"), a drone and drone components manufacturer, today announced that the Company will present virtually and participate in one-on-one investor meetings at the H.C. Wainwright 26th Annual Global Investment Conference, taking place at the Lotte New York Palace Hotel in New York City from September 9th-11th, 2024 in New York. Unusual Machines corporate presentation will...

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Volatus Aerospace Announces Financial Results for Second Quarter 2024

August 26, 2024 5:02 PM

Volatus Aerospace Corp. (TSXV:VOL)(OTCQB:VLTTF) ("Volatus" or "the Company"), a leader in aerial solutions, today announced its financial results for the second quarter ended June 30, 2024. The Company has filed its interim consolidated financial statements and related management's discussion and analysis for the second quarter ended June 30, 2024, with the Canadian securities regulatory authorities on the System for Electronic Document Analysis...

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Loar Holdings Inc. Completes Acquisition of Applied Avionics, Inc.

August 26, 2024 4:30 PM

Loar Holdings Inc. (NYSE:LOAR) ("Loar," "we" and "our"), today announced that it has completed the previously announced acquisition of Applied Avionics, Inc. ("Applied Avionics") for approximately $385 million in cash. Applied Avionics designs, develops, and manufactures highly engineered interface solutions for avionics and other aerospace and defense electronics. Applied Avionics' brands, VIVISUN® and NEXSYS®, are the preferred choices of...

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HEICO Corporation Reports Record Net Sales (Up 37%), Operating Income (Up 45%) and Net Income (Up 34%) for the Third Quarter of Fiscal 2024

August 26, 2024 4:15 PM

HOLLYWOOD, FL and MIAMI, FL / ACCESSWIRE / August 26, 2024 / HEICO CORPORATION (NYSE:HEI.A)(NYSE:HEI) today reported net income increased 34% to a record $136.6 million, or $.97 per diluted share, in the third quarter of fiscal 2024, up from $102.0 million, or $.74 per diluted share, in the third quarter of fiscal 2023. Net income increased 25% to a record $374.4 million, or $2.67 per diluted share, in the first nine months of fiscal 2024, up...

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Unusual Machines Announces 6,700 Rotor Riot Brave F7 Flight Controllers Ordered In One Week Following Blue UAS Framework Approval

August 23, 2024 7:00 AM

Unusual Machines, Inc. (NYSE American:UMAC) ("Unusual Machines" or the "Company"), a supplier to the American drone industry, reports over 6,700 Rotor Riot Brave F7 Flight Controllers have been ordered since being approved and listed on the Blue UAS Framework on August 7, 2024. The Rotor Riot Brave F7 Flight Controller is the first flight controller on the Blue UAS Framework list designed specifically for First-Person View (FPV) flight. This...

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FLYHT Announces Strategic Restructuring

August 22, 2024 5:40 PM

FLYHT Aerospace Solutions Ltd. ("FLYHT" or the "Company") (TSXV:FLY)(OTCQX:FLYLF) today announced a restructuring of its business operations to significantly reduce expenditures. "We have reached an exciting and critical juncture in the 25-year history of FLYHT," said Mary McMillan, Interim CEO and Executive Chair of the Board. "After several years of hard work, the development of the AFIRS Edge product line is functionally complete. This...

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Unusual Machines Agrees to Exchange $1M of its Existing Debt for Series C Preferred Shares Convertible at Market Value

August 22, 2024 4:05 PM

Unusual Machines, Inc. (NYSE American:UMAC) ("Unusual Machines" or the "Company"), an American drone and drone components manufacturer, on August 21, 2024 entered into two exchange agreements (each, an "Exchange Agreement") with existing promissory note holders. These agreements will cancel an aggregate of $1.0 million of the Company's existing $4.0 million indebtedness. In exchange, Unusual Machines issued (i) two new convertible notes in the...

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HEICO Corporation Acquires Leading Provider of Proprietary Aircraft Cockpit Emergency Egress and Aerial Delivery Solutions

August 22, 2024 8:30 AM

SOUTH WINDSOR, CT and MIAMI, FL / ACCESSWIRE / August 22, 2024 / HEICO Corporation (NYSE:HEI.A)(NYSE:HEI) today announced its Flight Support Group has acquired the Aerial Delivery and Descent Devices divisions of Capewell Aerial Systems ("Capewell") for cash at closing. Additional financial details were not disclosed. HEICO stated that it expects the acquisition to be accretive to its earnings within the year following closing. Connecticut-based...

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FLYHT Announces CEO Changes

August 21, 2024 7:00 PM

FLYHT Aerospace Solutions Ltd. ("FLYHT" or the "Company") (TSXV:FLY)(OTCQX:FLYLF) today announced the departure of Mr. Kent Jacobs as President and Interim Chief Executive Officer ("CEO") of the Company, effective immediately. Executive Chair of the Board, Mary McMillan, has been named Interim CEO and will assume the CEO responsibilities, supported by Chief Financial Officer, Alana Forbes, and the Company's executive leadership team. The Board...

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Canada Jetlines Files Notice of Intention Under the Bankruptcy and Insolvency Act (Canada)

August 20, 2024 6:00 PM

Canada Jetlines Operations Ltd. (Cboe CA:CJET) ("Canada Jetlines" or the "Company") announced that it has filed a Notice of Intention to Make a Proposal (the "Notice of Intention") pursuant to the Bankruptcy and Insolvency Act (Canada) ("BIA"). Pursuant to the Notice of Intention, BDO Canada Limited has been appointed as proposal trustee on behalf of the Company and will assist the Company in its restructuring efforts. Dentons Canada LLP is...

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SPEC Announces Its Latest Generation of ADEP MicroEW Products

August 20, 2024 2:15 PM

SPEC (Systems & Processes Engineering Corporation) is pleased to announce the availability of the ADEPTM 5000 Intelligent EW Engagement System, the latest addition to the ADEPTM MicroEW family of hardened, single module onboard EW products for comprehensive, intelligent EW engagements, airborne threat simulation, and range solutions. 5th Generation and Beyond Radar EW Response. SPEC has completed qualification of its ADEPTM 5000 Intelligent EW...

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Volatus Aerospace Corp. Announces Intention To Amend Its Convertible Debentures

August 16, 2024 5:00 PM

TORONTO, ON / ACCESSWIRE / August 16, 2024 / Volatus Aerospace Corp. ("Volatus" or the "Company") (TSXV:VOL)(OCTQB:VLTTF), a leader in the operation of piloted and remotely piloted aircraft systems (drones), announces that, pursuant to TSX Venture Exchange (the "Exchange") Policy 4.1 - Private Placements, the Company has submitted an application to the Exchange for acceptance of an amendment to the terms of the Company's issued and outstanding...

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