SaverOne 2014 announces LOI with VisionWave to develop RF defense platform

SaverOne 2014 Ltd. (SVRE) announced that it has entered into a non-binding letter of intent with VisionWave Holdings, Inc. (VWAV), involving RF technology collaboration geared toward the defense and security sector. Under the terms of the LOI and subject to the execution of definitive agreements, SaverOne will serve as VisionWave’s operating arm for RF-focused defense and military technology initiatives. The parties intend to work closely together to integrate SaverOne’s RF technologies to support the development and commercialization of advanced RF-based solutions for defense and security applications. As part of the proposed transaction, in the first stage, SaverOne will receive $2.75M in equity in VisionWave and VisionWave will receive 19.99% equity in SaverOne. Subject to the achievement of specified milestones, VisionWave will acquire additional equity in SaverOne in two subsequent stages, representing an additional 19.99% and 11.02%, respectively, for a potential total of approximately 51% equity ownership in SaverOne. Under the terms of the LOI, SaverOne will potentially receive equity in VisionWave with a total aggregate value of up to $7M. VisionWave will be authorized to appoint one director to SaverOne’s at the initial investment stage, and subject to meeting the specified development milestones, to appoint additional directors.