New American Drone and Defense Company to be Created Through Merger of Powerus and Aureus Greenway Holdings

Core Viewpoint - The merger between Aureus Greenway Holdings Inc. (AGH) and Autonomous Power Corporation (Powerus) aims to enhance American leadership in the drone industry and autonomous systems innovation, with a focus on domestic manufacturing and strategic defense partnerships [1][2]. Company Overview - Powerus is co-founded by former U.S. Army Special Operations veterans and specializes in autonomous drone systems for military and commercial applications in high-risk environments [2][9]. - The company operates through subsidiaries including Kaizen Aerospace, Tandem Defense, and Agile Autonomy, providing capabilities in heavy-lift unmanned aerial systems, tactical defense platforms, and maritime surveillance [2][9]. Merger Details - The merger agreement stipulates that Powerus will merge into a newly-formed subsidiary of AGH, with Powerus continuing as the surviving entity and AGH adopting the name "Powerus Corporation" [4]. - The combined company is expected to be listed on Nasdaq under the ticker "PUSA" [4]. Investment and Financial Aspects - Powerus has secured a $50 million investment from the Korea Climate & Governance Improvement Fund (KCGI), which will enhance its domestic manufacturing capabilities and reduce reliance on non-allied nations [6]. - AGH has entered into a private placement agreement to issue approximately 3,009,667 shares of common stock, expected to generate gross proceeds of about $9.03 million [7]. Strategic Importance - The merger is positioned as a response to current geopolitical uncertainties, emphasizing the growing demand for autonomous technologies in defense and infrastructure [3][5]. - The leadership team of Powerus has a proven track record in scaling companies and is focused on addressing real-world demand for autonomous systems [3][9].