According to Bloomberg, Shield AI plans to buy Echodyne for $5.3 billion and raise $2.5 billion
According to Bloomberg, Shield AI plans to acquire radar maker Echodyne for $5.3 billion while raising $2.5 billion in new financing to support the deal. The package includes $1 billion in Series H funding at a $28.8 billion valuation, $1 billion in structured equity from Blackstone and $500 million in debt from JPMorgan Chase. Shield AI said $4.8 billion of the purchase price is cash and equity, with another $500 million tied to milestone targets.
Original sources
- Bloomberg · Defense tech startup Shield AI raises $2.5B, including a $1B Series H at a $28.8B valuation and $500M in debt, to help acquire radar company Echodyne for $5.3B ↗
- Techmeme · Defense tech startup Shield AI raises $2.5B, including a $1B Series H at a $28.8B valuation and $500M in debt, to help acquire radar company Echodyne for $5.3B ↗