BSA signs binding deal for Eonetics

• BSA signed a binding agreement to acquire 100% of the capital in Eonetics.
• The consideration involves issuing 50 million shares, 24.5 million options, and 30 million performance shares.
• The company aims to expand its infrastructure network into proprietary tethered-drone technology systems.

BSA (ASX:BSA) executed a binding share purchase agreement to acquire 100% of Eonetics, utilizing a consideration mix of 50 million shares, 24.5 million options, and 30 million performance shares.

The agreement follows initial discussions announced by the company on Oct. 1, shifting the framework into a legally binding contract.

No executives were quoted in the transaction announcements, as corporate disclosures focused strictly on financial terms and technical infrastructure details.

The purchase structure includes escrow terms where 20 million shares face a 12-month voluntary hold and another 20 million face an 18-month voluntary escrow, with no cash capital raising planned.

Following the announcement the BSA share price was up at $0.24.

BSA Limited operates across telecommunications, utilities, and electric vehicle charging markets by deploying over 160 skilled field contractors and roughly 40 internal employees.

Eonetics brings an established tethered aircraft platform that supports 15-kilogram payloads, 120-meter altitudes, and past deployment use cases during disaster responses and network testing.