Mentioned:
The United States Air Force has just awarded a new contract to a publicly traded autonomous drone company. But, why?
What’s happening:
- AEVEX (NYSE: AVEX) has been awarded a new $50M USD contract from the United States Air Force
Why it matters:
- This is the single largest contract that AEVEX has ever won from the United States Air Force
Going deeper:
- AEVEX has publicly stated that the new contract from the United States Air Force comes with $27M USD in initial funding and will be focused on accelerating the development of their long-range precision strike unmanned platform for missions in GPS-denied environments
- AEVEX just recently completed a $320M USD IPO financing round led by Goldman Sachs and Jeffries and listed on the New York Stock Exchange
The intrigue:
- Private equity company Madison Dearborn Partners are the single largest shareholders of AEVEX and own roughly 79% of the voting power in the company
