Dronamics to Go Public on Nasdaq Through Merger with GP-Act III Acquisition Corp.

Cargo drone developer Dronamics Group Limited announced a definitive business combination agreement with special purpose acquisition company GP-Act III Acquisition Corp. (Nasdaq: GPAT). The deal values Dronamics at $400 million before new money and is expected to result in the combined company listing on Nasdaq. Proceeds from the merger are intended to scale Black Swan aircraft production and launch U.S. operations.