Gresham CEO Jonathan Read highlighted the significance of the merger for the company’s growth and expansion, especially in providing more defense products for NATO members.
“This merger marks a significant step for Gresham Worldwide,” Read said. “We also believe that being on a national exchange will give us access to the resources to continue executing acquisitions of smaller defense contractors and accelerate our growth both organically and through M&A.”
The combined company’s shares are expected to trade under the symbol “GWWI.” Currently, Gresham’s existing shares trade over the counter at about 12 cents per share.
Background on Ault Disruptive Technologies Corp.
Ault Disruptive, which listed on the NYSE American after completing a $100 million initial public offering in December 2021, is a special-purpose acquisition company, or SPAC. SPACs, also known as blank-check companies, conduct IPOs with the intent of acquiring private companies and taking them public within a set timeframe.
