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The company is seeking to raise $40 million by issuing 80,000,000 new shares at an offer price of $0.50 per share, implying an indicative pro forma market capitalisation of approximately $158 million upon completion of the offer.
Speculation has whirled into a frenzy earlier this week with news that several unidentified drones had been seen flying over RAAF Base Williamtown and Newcastle Airport in early July.
The companies are positioning the Australian-designed uncrewed combat aircraft as a way for the German Air Force to move rapidly from CCA concept development towards operational capability while retaining sovereign control over key technologies.
The jointly funded technology demonstration is the first to showcase automated manned-unmanned teaming between the two platforms using an open systems architecture, allowing machine-to-machine mission planning and execution.
MILLIBEAM has revealed Rakurai, a new hand-held counter-uncrewed aerial system (C-UAS) built around a proprietary Australian-developed radiofrequency (RF) architecture that the company said delivers greater performance, broader frequency coverage and improved power efficiency than conventional electronic warfare systems.
The plan to acquire human-operated strike drones for delivering explosives to a target without returning to launch points follows recent announcements to begin market research into unarmed long-range uncrewed aircraft systems capable of conducting maritime surveillance tasks.
PROFILES
Raising the Bar in Commercial Laundry: How Rinse & Repeat Is Redefining Service for Aviation
Raising the Bar in Commercial Laundry: How Rinse & Repeat Is Redefining Service for Aviation
UPRT Australia- Transforming Aviation’s Greatest Risk into Its Greatest Asset
UPRT Australia- Transforming Aviation’s Greatest Risk into Its Greatest Asset
