FACT II Acquisition announced that the previously announced business combination agreement with Precision Aerospace & Defense Group has been terminated. Adam Gishen, CEO of FACT II, noted: "Throughout this process, we worked diligently to assemble the capital required to complete the transaction and were pleased to have received multiple financing proposals on favorable market terms that would have in aggregate exceeded the minimum cash condition of $75 million as set forth in the Business Combination Agreement. Unfortunately, the unforeseen circumstances affecting a key subsidiary acquisition materially altered the transaction that FACT II had agreed to pursue, leaving the parties with no alternative but to discontinue the proposed business combination. We thank PAD and its advisers for the considerable time and effort invested throughout the transaction process." FACT II will continue to evaluate alternative business combination opportunities in accordance with its governing documents.

6/5 06:30

Precision Aerospace & Defense Group Plans to Acquire Telecommunications Equipment Company

Precision Aerospace & Defense Group, an aerospace and defense engineering and manufacturing company, announced its entry into a non-binding Letter of Intent to acquire a leading provider of telecommunications equipment, surveillance systems, and structural steel fabrication defense applications. The announcement follows the company's previously disclosed proposed business combination with FACT II Acquisition Corp. If the acquisition is consummated, PAD expects Target to bolster its financial performance, bringing an additional estimated $12M and $3.8M of projected revenue and EBITDA, respectively, for the calendar year ended December 31, 2026.

4/16 09:10

Precision Aerospace & Defense Group and FACT II Update Merger Filing

Precision Aerospace & Defense Group and FACT II Acquisition Corp. have publicly filed an amended registration statement on Form S-4 with the U.S. Securities and Exchange Commission in connection with their proposed business combination. The amended filing includes updated financial information and additional disclosures relating to the proposed transaction first announced on December 1, 2025. PAD has built a diversified platform spanning engineering & sustainment, precision manufacturing and advanced non-destructive testing, serving aerospace, defense, commercial aviation and space customers through multiple AS9100-certified and ITAR-registered U.S. facilities. Upon closing of the Business Combination, the combined company will be named Precision Aerospace & Defense Group, Inc., with its common stock and warrants anticipated to trade on the New York Stock Exchange under the ticker symbol "PAD." The proposed transaction remains subject to FACT shareholder approvals, applicable regulatory and listing approvals, and other customary closing conditions.

12/1 16:40

Precision Aerospace & Defense and FACT II to Merge with Enterprise Value of $320M

Precision Aerospace & Defense and FACT II Acquisition announced that they have entered into a definitive business combination agreement. Upon closing of the proposed business combination, the combined company will operate under the name Precision Aerospace & Defense. The transaction implies an enterprise value of up to $320M for Precision Aerospace & Defense, assuming a $10.00 per share price and after giving effect to certain pending acquisitions. It is expected that the combined company will continue to be led by Precision Aerospace & Defense's existing management team, with Brent Borden remaining as CEO. In connection with the proposed business combination, Precision Aerospace & Defense has entered into a non-binding indicative term sheet with BC Partners relating to a potential credit facility and equity financing of up to an anticipated aggregate amount of $80M. The financing is subject to numerous conditions, including, without limitation, the completion of due diligence and the execution and delivery of definitive documentation. The company anticipates that the financing, together with the funds in FACT's trust account, would provide funding to strengthen PAD's balance sheet, finance strategic acquisitions, and support ongoing growth. In addition, the parties may seek other sources of financing in connection with the business combination and to bolster PAD's balance sheet and fund future growth initiatives. Following the business combination, Precision Aerospace & Defense's current shareholders are expected to own approximately 59% of the combined company's outstanding shares. The business combination is expected to be completed in the first half of 2026, subject to the approval of the parties' shareholders, any applicable regulatory approvals, the approval for listing by Nasdaq of the combined company's common stock and warrants, and other customary closing conditions. Upon closing, the combined company will be renamed Precision Aerospace & Defense, and the combined company's common stock and warrants are anticipated to be listed on the Nasdaq Stock Market under the ticker symbol (PAD).

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