Byrna Technologies has entered into a definitive agreement to acquire substantially all assets of HERO Defense Systems, a maker of compact less-lethal self-defense products. The transaction is structured as an asset purchase on a cash-free, debt-free basis, with consideration consisting of $625,000 in cash, $625,000 in restricted shares of Byrna common stock, and a performance-based royalty tied to future net sales of HERO products and derivative products. The acquisition is expected to expand Byrna’s product portfolio across additional price points and form factors, creating a new entry point for consumers interested in personal safety. HERO’s product line includes the HERO 2020 compact irritant launcher and the AIIRO pepper-gel personal defense device, along with refill cartridges and accessories. The deal is expected to close within approximately 30 days, subject to customary closing conditions.
Byrna Technologies IncByrna acquires HERO assets for $1.25M, expanding product portfolio and creating new entry point for consumers.
HERO Defense Systems is being acquired by Byrna, receiving cash, stock, and future royalties.