ALPP - Alpine 4 Technologies acquires Vayu adding to its commercial drone holdings

Alpine 4 Technologies (ALPP) entered into a binding LOI to acquire Vayu, builder of high-performance vertical take-off and landing hybrid propulsion-based, autonomous aircraft; indicating its second recent acquisition in the fast-growing UAV space serving as a vital addition to the platform capabilities of Impossible Aerospace.Both the companies expect to meet closing conditions by Jan.10, 2021, post which Vayu will become subsidiary of Alpine 4.Transaction will be completed in a reverse triangular merger with a newly formed subsidiary of Alpine 4.Vayu acquisition will enable Alpine 4 to incorporate Vayu's highly advanced and rugged autopilot company-wide for other applications such as with Impossible Aerospace's US-1 drone.Shares trading 9.7% higher premarket.

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Alpine 4 Technologies acquires Vayu adding to its commercial drone holdings