Mobix Labs (MOBX) said Thursday it signed a binding letter of intent to acquire drone manufacturer Vision Aerial.
Financial terms were not disclosed.
Completion of the proposed transaction remains subject to definitive agreements, due diligence, customary closing conditions and approvals, the company said.
Shares of the company were up roughly 15% in Thursday trading.
Price: $2.57, Change: $+0.34, Percent Change: +15.16%