VisionWave (VWAV) stock underwent a massive rally on Monday after the next-generation defense technology company announced a $50 million equity line agreement. This comes from a Standby Equity Purchase Agreement (SEPA), and the company also revealed a $5 million tranche funding commitment in the form of convertible notes.
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VisionWave will use the funds from this agreement to develop and deploy its AI-powered multi-domain defense solutions across autonomous aerial, ground, and maritime systems. A clause in the $5 million tranche funding prevents it from using the money to pay liabilities before its business combination, ensuring the funds are used for working capital and growth initiatives.
Noam Kenig, CEO of VisionWave, said, “This funding commitment is more than just capital — it is a validation of our business model, our mission, and the extraordinary work our team has accomplished.”
VisionWave Stock Movement Today
VisionWave stock was up 73.62% in pre-market trading on Monday, following a 2.17% jump on Friday. However, the shares were down 79.04% year-to-date and 78.64% over the past 12 months. This came alongside heavy trading, as some 23 million shares changed hands, compared to a three-month daily average of 147,700 units.
