Kernel Group Holdings, a special purpose acquisition company (SPAC) announced today that it has entered into a definitive business combination agreement with AIRO Group Holdings, Inc, developer of the Jaunt Journey eVTOL.
According to a company statement:
“The Merger Agreement provides AIRO with a path to becoming a publicly listed company through a new Delaware holding company, AIRO Group, Inc that will acquire both Kernel and AIRO. Upon closing of the merger transaction AIRO and Kernel will be wholly owned subsidiaries of PubCo.
“AIRO is positioned to create a new middle market aerospace and defence sector company operating in four key divisions:
- Advanced Avionics: Highly critical electronic systems used in aircraft. Areas of application include: communications, navigation, monitoring, flight-control system, AI, collision-avoidance systems, radar, and electro-optics
- Electric Air Mobility: Urban transport systems that move passengers or cargo by air in urban/suburban areas. eVTOL (electric vertical take off & landing) aircraft are expected to be used for fixed route flights, on-demand trips, and military operations
- Uncrewed Air System: UAS platforms and services used for civilian/commercial and military applications. Areas of application include: reconnaissance, attack, surveillance, inspection, weather analysis, and healthcare
- Training: Professional and military aviation training for clients within wider A&D sector.”