공고 • Jul 15
VisionWave Technologies Inc. completed the acquisition of acquire Bannix Acquisition Corp. (NasdaqCM:BNIX) from a group of shareholders in a reverse merger transaction.
VisionWave Technologies Inc. entered into a business combination agreement to acquire Bannix Acquisition Corp. (NasdaqCM:BNIX) from a group of shareholders for $33.5 million in a reverse merger transaction on March 26, 2024. Bannix will acquire all of the issued and outstanding share capital of the Company from the Company Shareholders in exchange for the issuance of 3,000,000 new shares of common stock of Bannix. The respective obligations of each party to consummate the Transactions, including the Share Acquisition, are subject to the satisfaction, or written waiver, by the Company and Bannix of the following conditions: Bannix’s shareholders having approved and adopted the Shareholder Approval Matters, the Proxy Statement shall have become effective in accordance with the provisions of the Securities Act, no stop order shall have been issued by the SEC and shall remain in effect with respect to the Proxy Statement, and no proceeding seeking such a stop order shall have been threatened or initiated by the SEC and remain pending; each of the Company Shareholder Resolutions shall have been passed by Company Shareholders holding at least the requisite number of issued and outstanding Equity Securities of the Company; the Bannix and VisionWave Technologies Stockholder Approval shall have been obtained; Bannix’s initial listing application with Nasdaq in connection with the transactions contemplated by this Agreement shall have been conditionally approved and, immediately following Closing, Bannix shall have at least $5,000,001 of net tangible assets following the exercise of Redemption Rights in accordance with the Parent Organizational Documents, Bannix shall satisfy any applicable initial and continuing listing requirements of Nasdaq, and Bannix shall not have received any notice of non-compliance therewith that has not been cured prior to, or would not be cured at or immediately following the Closing. The board of directors of Bannix and VisionWave Technologies has determined that it is in the best interests of Bannix and the stockholders of Bannix, and declared it advisable, to enter into this agreement. As of May 17, 2024, the expected completion date was extended from May 14, 2024 to June 14, 2024. As of June 17, 2024, the expected completion date was extended from June 14, 2024 to July 14, 2024. As of July 17, 2024, the expected completion date was extended from July 14, 2024 to August 14, 2024. As of August 20, 2024, the expected completion date was extended from August 14, 2024 to September 14, 2024. On September 16, 2024, Bannix Acquisition Corp. announced today that its board of directors has decided to extend the date by which Bannix must consummate an initial business combination from September 14, 2024 for an additional month, to October 14, 2024. On October 21, 2024, Bannix Acquisition Corp. announced today that its board of directors has decided to extend the date by which Bannix must consummate an initial business combination from October 14, 2024 for an additional month, to November 14, 2024. As of December 2, 2024, the transaction is expected to close on March 12, 2025. As of January 24,2025, the transaction is expected to be completed in the first quarter of 2025. On March 14, 2025 Bannix announces the extension to complete its initial business combination from March 14, 2025 for an additional month, to April 14, 2025. As of April 14, 2025, board of directors of Bannix Acquisition has decided to extend the date by which Bannix must consummate an initial business combination (the “Deadline Date”) from April 14, 2025 for an additional month, to May 14, 2025. As of May 5, 2025, the SEC declared VisionWave’s registration statement on Form S-4 to be effective. As of May 15, 2025, Bannix Acquisition Corp. (“Bannix”) announced that its board of directors (the “Board”) has decided to extend the date by which Bannix must consummate an initial business combination (the “Deadline Date”) from May 14, 2025 for an additional month, to June 14, 2025. As per filling of May 15, 2025, the business combination is expected to close in the second quarter of 2025. As of May 22, 2025, stockholders have approved all proposals.
Fleming PLLC acted as legal advisor for Bannix Acquisition Corp. Mark Zimkind of Continental Stock Transfer & Trust Company acted as transfer agent and Morrow Sodali LLC as proxy solicitor for Bannix Acquisition Corp.
VisionWave Technologies Inc. completed the acquisition of acquire Bannix Acquisition Corp. (NasdaqCM:BNIX) from a group of shareholders in a reverse merger transaction on July 14, 2025. Marula Capital Group provided the Fairness Opinion to the Business Combination. RBSM LLP served as the Auditor to VisionWave Technologies. VisionWave Technologies shares of common stock will commence trading on the Nasdaq Global Market under the trading symbol VWAV and its warrants will trade on under the trading symbol VWAVW.