Powerus Set to Complete Merger and Become Nasdaq-Listed Drone Company

Combination with Aureus Greenway Holdings is expected to close October 1 as the autonomous systems company scales U.S. production

Defense technology company Powerus expects to complete its merger with Aureus Greenway Holdings Inc. on October 1, 2026. The transaction will make Powerus a publicly traded company on the Nasdaq Capital Market.

Powerus, formally Autonomous Power Corporation, develops autonomous and unmanned systems for defense and other applications. Under the transaction, Powerus will merge into a subsidiary of Aureus Greenway Holdings, or AGH. Eric Trump and Donald Trump Jr. are both investors in the combined company.

AGH will change its name to Powerus Corporation. Shares of the combined company are expected to continue trading under the Nasdaq ticker PUSA. AGH changed its ticker to PUSA earlier this year in preparation for the transaction.

The companies announced their definitive merger agreement in March. At that time, they expected the transaction to close during the summer.  The Securities and Exchange Commission has declared the Form S-4 registration statement for the merger effective. Closing remains subject to the remaining conditions in the merger agreement.

“We continue to look forward to closing the combination with Powerus,” said Matthew Saker, Interim Chief Executive Officer of Aureus Greenway Holdings Inc. “I believe it reflects the exciting future ahead for our shareholders as we join forces with a company at the forefront of autonomous defense technology.”

Scaling Drone and Counter-UAS Production

The listing comes as Powerus works to expand manufacturing and meet defense demand.

“Completing this transaction puts Powerus in a position to build at the scale our customers are asking for,” said Andrew Fox, Chief Executive Officer of Powerus. “Our focus does not change on October 1. The work is the same work.”

Powerus develops tactical drones, heavy-lift aircraft, maritime systems, counter-UAS technology and related mission systems. The company has also pursued autonomous coordination and swarming technology through partnerships.

Recent awards provide context for its production plans. Powerus says it received a purchase order worth about $2.5 million from a defense prime contractor. The order covers 1,500 U.S.-manufactured FPV aircraft, along with pilot and spare-parts kits.

The company also secured a U.S. Air Force indefinite-delivery/indefinite-quantity contract for its Guardian-2 counter-drone interceptor. The contract has a ceiling of up to $90 million and runs through mid-2028. An IDIQ ceiling represents the maximum potential value, not guaranteed spending.

Powerus has also expanded internationally. Earlier this month, the company announced a limited procurement order from Pakistan’s Ministry of Defence for unmanned aircraft systems and support. Financial terms were not disclosed.

Moving Into the Public Markets

The transaction differs from a traditional initial public offering. Powerus is combining with an existing Nasdaq-listed company rather than conducting an IPO. It also marks a major change for AGH, whose existing operations include golf courses in Florida.

“I spent most of my career as the person relying on this equipment in the field,” said Brett Velicovich, Co-Founder of Powerus. “That is the standard we build to, and it does not change because the company has a listing.”

If the remaining closing conditions are satisfied, the merger is expected to close October 1. The transaction will give Powerus a public-market platform as it works to expand production of autonomous defense systems.

Read more:

• Powerus Signs $22.3M Counter-UAS Deal With Private Middle East Oil Firm
• Powerus Expands U.S.-Made Heavy-Lift Drones Into Agriculture
• Powerus and Aureus Greenway Holdings Announce Merger to Advance Autonomous Drone Systems