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VisionWave Holdings, Inc. (NASDAQ:VWAV) announced that Yossi Attia has resigned from his position as Chief Operating Officer, effective Wednesday. The company stated that the resignation was for personal reasons. The news comes as the stock has shown strong momentum, posting a 27% gain over the past week, though remaining down about 18% year-to-date.
VisionWave Holdings, which is incorporated in Delaware and operates in the prepackaged software sector, disclosed the resignation in a filing with the Securities and Exchange Commission. The filing did not provide further details regarding Attia’s departure or plans for his replacement.
The company’s common stock and redeemable warrants are listed on The Nasdaq Stock Market under the symbols VWAV and VWAVW, respectively.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, VisionWave Holdings, Inc. has made significant strides with its financial and technological initiatives. The company secured a $50 million equity line through a Standby Equity Purchase Agreement with an institutional investor, which includes an additional $5 million commitment in convertible notes. This capital will support VisionWave’s expansion in defense technology, with the first $3 million of the notes already funded. VisionWave also responded to a procedural double-patenting matter with the U.S. Patent and Trademark Office regarding its Radio Wave Finder technology. Alongside this, the company introduced a new AI engine named Evolved Intelligence. In a strategic move, VisionWave completed a business combination with Bannix Acquisition Corp., leading to its common stock and warrants beginning to trade on the Nasdaq Global Market. The post-merger enterprise now holds an approximate value of $174 million with around 14.3 million shares of common stock outstanding. These developments mark a period of growth and expansion for VisionWave Holdings.
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