Mergers & Acquisitions ·
Sadot Group terminates joint venture with VisionWave, receives 500,000 shares
SDOTSadot Group Inc.
Sadot Group Inc. terminated its joint venture agreement with VisionWave Holdings, Inc. after partner CMJV failed to provide required financial statements and engage an independent auditor. The company received no funding under the $7.8 million capital commitment and retains no interest in the Israeli advanced-composites manufacturer. In exchange for VisionWave retaining 250,000 entry premium shares issued by Sadot, VisionWave will issue 500,000 of its own common stock to Sadot as negotiated consideration. The parties exchanged mutual releases and indemnification provisions regarding the unwound transaction. Sadot Group Inc. operates in the advanced composites manufacturing sector.