Byrna to Acquire Hero Defense Systems Assets for $1.25 Million, With Royalty

Byrna entered into an Asset Purchase Agreement to acquire substantially all assets of Hero Defense Systems’ less-lethal products business for $1.25 million. Consideration includes $625,000 in cash and $625,000 in restricted stock (capped at 104,000 shares), plus a 3.5% sales royalty guaranteed at $250,000 over five years and capped at $5 million. $125,000 of cash will be held in escrow for up to 18 months for indemnities; shares carry a six-month lock-up. Closing is expected within about 30 days, subject to customary conditions.

Agreement details:

• Agreement type: Asset Purchase Agreement to acquire substantially all business assets
• Counterparty: HERO Defense Systems
• Signed / Effective: Jul 07 2026 / same
• Duration / Termination: N/A
• Reason: Expand less-lethal portfolio and acquire HERO product IP

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.