Sadot Group Inc. has mutually terminated its Joint Venture (JV) and Operating Agreement with VisionWave Holdings, Inc., effective October 12, 2026. The termination was prompted by the JV's target company, C.M. Composite Materials Ltd. (CM), being unable to produce the required financial statements for SEC reporting. As part of the termination, Sadot's capital commitment of approximately $7.8 million is extinguished, and it will receive 500,000 shares of VisionWave common stock.
Key Details
- Agreement Terminated: The JV agreement dated September 30, 2026, was terminated after CM advised it could not produce the necessary audited financial statements for reporting purposes.
- Financial Impact: Sadot's capital commitment of $7,814,323 to the JV is extinguished, and the company is not required to pay any termination penalties. Sadot had not funded any portion of the commitment prior to termination.
- Share Consideration: VisionWave will retain the 250,000 Sadot common shares it previously received as a JV entry premium. In consideration, VisionWave will issue 500,000 shares of its own common stock to Sadot Group.