T3 Defense Buys 60% of Drone Maker Project35, Adding Proven Counter-UAV Tech
DFNS sits 27% above its 52-week low of $0.138 on light trading volume (0.3× avg).
Summary
T3 Defense acquired a 60% stake in Israeli drone and counter-UAV firm Project35 for 21.06 million shares and a 12% promissory note. Project35 brings field-proven unmanned systems and an autonomous interceptor that recently completed live-fire trials, with FY2026 revenue expected around $2.4 million. The deal gives T3 Defense immediate access to Tier-1 Israeli defense customers including IAI, Rafael, and Elbit, and adds AS9100-certified, NDAA-compliant manufacturing. This follows a series of dilutive financing moves and a Nasdaq delisting notice, making the acquisition a strategic pivot toward revenue-generating defense technology. The transaction is structured with stock, which could add further dilution but secures a revenue stream and operational capabilities in a high-demand sector.
At the time of this announcement, DFNS was trading at $0.17 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $13.9M. The 52-week trading range was $0.14 to $15.59. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.