Mergers & Acquisitions ·
First Breach terminates $25M joint venture with ideaForge; completes Long Range Strike drone test
FBDTFirst Breach, Inc.
First Breach mutually terminated its Joint Venture Agreement with ideaForge Technology, releasing both parties from all claims and eliminating the company's obligation to contribute up to $25.0 million, including a $10.0 million tranche scheduled for December 31, 2026. No early termination penalties were incurred. Concurrently, the company announced the successful initial test flight of its Long Range Strike drone platform, developed with Hellbender, Inc., marking the second proprietary system to enter active flight testing alongside the Close Quarters Strike platform. First Breach is a defense technologies company focused on ammunition manufacturing and unmanned aerial systems.