Defense contractor Gresham Worldwide Inc. and special-purpose acquisition company Ault Disruptive Technologies Corp. agreed Monday to merge in a deal that values Gresham at $83 million, expanding the company’s profile with the guidance of two law firms.
Gresham to Trade on NYSE American Exchange
Shares of Gresham are set to begin trading in the fourth quarter of 2024 on the NYSE American exchange if the deal closes as planned. Nason Yeager Gerson Harris & Fumero PA is representing Gresham, while Olshan Frome Wolosky LLP is advising Ault Disruptive.
Gresham expects to go public at a pro forma enterprise value of $83 million and receive $1 million in fresh proceeds, assuming no redemptions by Ault Disruptive’s shareholders. Additionally, Gresham plans to relocate its corporate offices from California to Delaware before the merger concludes.
Gresham $83M SPAC Merger : Gresham’s Diverse Operations and Expansion Plans
Gresham manufactures medical testing equipment and distributes electronic components, serving defense and aerospace companies as well as the medical technology, transportation, and telecommunications sectors. The company’s operations extend across Israel, the United Kingdom, Connecticut, and California.
