Deal valued at 21.06M DFNS shares and a $1.25M promissory note strengthens T3 Defense’s stake in Project35.
T3 Defense (DFNS) secured a 60% stake in Project35, paying 21.06 million shares of its common stock and a 12% promissory note worth $1.25 million. The note matures one day before the first anniversary of the agreement.
The transaction expands T3 Defense’s holdings without immediate cash outlay, leveraging equity and debt instruments. No prior stake or consensus valuation was disclosed for comparison.
Market reaction to the announcement remains unconfirmed.