AEVEX to Acquire BlackSea Technologies for $650 Million

Cooley LLP represented BlackSea Technologies, a Razor’s Edge portfolio company, in its agreement to be acquired by AEVEX. The transaction provides for AEVEX to acquire BlackSea Technologies for a total consideration of $650 million, consisting of approximately $250 million in cash and approximately $350 million in shares of Class A common stock of AEVEX priced at $27.50 per share. The agreement also contemplates $50 million in performance-based earnout consideration. BlackSea Technologies is one of the largest providers of unmanned surface and subsea vessels in the U.S. defense market. AEVEX is a U.S. defense technology company specializing in autonomous systems, AI-enabled mission software, and advanced ISR and electronic warfare solutions. Cooley LLP has advised Razor’s Edge for over 15 years and advised BlackSea Technologies on the original platform acquisition of Maritime Applied Physics Corporation and the subsequent add-on acquisitions of The Hard Yards, Lakenheath Electronics Design, and Blue Tide Marine. Cooley LLP represented BlackSea Technologies with a team composed by: Andrew Lustig, Aaron Binstock, Kaycie L. Benesch-Rupp, Nick Kenyon, Sydney Sachs, Elise Robinson, Camille Awono, Kimberly Nguyen, Bomin Kim, Helenanne Connolly, Virat Gupta, Nyron J. Persaud, Paula Fleckenstein, Paula Holland, Breanna Qin, Christopher Kimball, Kevin King, Emily Mok, David Fletcher, Michelle Garcia Schulman, Eileen Marshall, Amanda Pacheco, Megan Browdie, Julia R. Brinton, Jennifer C. Ok, Darren DeStefano, Robert Jacques, Loraine Torres, Brandon Lefebvre, Addison Pierce, Yoni Horn, Sean O'Neill, Alex Elmore, Stephanie Gentile, Mark Ballantyne, Michael Tollini.

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AEVEX to Acquire BlackSea Technologies for $650 Million

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AEVEX to Acquire BlackSea Technologies for $650 Million

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