ASDN - Astro Aerospace to acquire Horizon Aircraft

Astro Aerospace (ASDN) entered into an agreement under which Astro will acquire privately held Horizon Aircraft, developer of advanced eVTOLs, for 5M shares of Astro stock; company's capabilities will broaden and will become a leading eVTOL platform while continuing to invest and innovate.Acquisition is expected to close in ~10 days.On transaction closure, CEO and co-founder of Horizon, Brandon Robinson, will be appointed as President of Astro and will sit on its board.Shares trading 0.18% higher premarket.

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Astro Aerospace to acquire Horizon Aircraft