Aureus Greenway Signs $20M Bridge Loan Arrangement With Autonomous Power Corporation

Aureus Greenway Holdings Inc. (NASDAQ:AGH) today announced that it has entered into a $20 million bridge loan arrangement with Autonomous Power Corporation, doing business as Powerus ("Powerus"), to provide working capital and support continued execution ahead of the parties' previously announced definitive business combination agreement.

Aureus Greenway Holdings and Powerus previously announced a definitive agreement for a business combination expected to create a publicly traded platform for autonomous systems across air, land, and sea, focused on defense, critical infrastructure, and precision agriculture markets.

As part of the bridge loan, Aureus Greenway Holdings will provide Powerus with a $20 million bridge loan intended to support near-term working capital needs and continued execution toward the expected closing of the proposed transaction, subject to customary conditions and approvals.