WEST HOLLYWOOD, Calif., March 16, 2026 (GLOBE NEWSWIRE) -- VisionWave Holdings, Inc. (NASDAQ: VWAV) (“VisionWave” or the “Company”), a defense-focused technology company, today announced that it has reached an agreement with the largest creditor of C.M. Composite Materials Ltd. (“C.M.”), a step the Company believes strengthens the path toward completing its previously announced agreement to acquire a 51% controlling interest in the Israeli aerospace and defense manufacturing company.

The agreement seeks to align VisionWave, C.M., and its principal creditor regarding existing settlement obligations and clarifies the framework under which C.M. will continue to satisfy those obligations. VisionWave believes the alignment removes a potential structural obstacle that could otherwise have delayed or prevented completion of the transaction.

The agreement was disclosed in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission and confirms that compliance with C.M.’s creditor settlement obligations will not constitute a breach of VisionWave’s previously disclosed investment and financing agreements related to the transaction. 

The agreement also includes VisionWave’s commitment to provide at least $5 million in funding to support C.M.’s working capital and strategic expansion initiatives. 

Established Aerospace and Defense Manufacturing Platform

C.M., headquartered in Modi’in, Israel, is an advanced composite manufacturing company serving the aerospace and defense sectors. The company operates an integrated engineering and production campus employing more than 130 engineers and manufacturing specialists and has over 20 years of operational experience producing precision composite structures and components used in aerospace and defense systems.

VisionWave believes the company represents a strategic manufacturing platform capable of supporting its broader defense-sector growth strategy.

International Growth Opportunities

VisionWave previously announced that C.M. and VisionWave are evaluating potential international expansion initiatives, including opportunities related to industrial and defense manufacturing partnerships in India, where government policy supports the expansion of domestic defense manufacturing capacity.

While such initiatives remain exploratory, VisionWave believes C.M.’s engineering capabilities and manufacturing expertise could position the company to participate in future global defense supply chains.

Management Commentary

“This agreement represents an important step toward completing the planned transaction. C.M. is an established defense manufacturing company with real revenue, experienced engineering teams, and more than two decades of operational history supporting complex aerospace and defense programs. We believe it has the potential to become a foundational manufacturing asset within VisionWave’s defense portfolio,” said Doug Davis, Interim Chief Executive Officer of VisionWave.

The proposed acquisition remains subject to the satisfaction of conditions under the previously disclosed investment agreements and other customary closing requirements. Additional details regarding the agreement are available in VisionWave’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.

About VisionWave Holdings, Inc.

VisionWave Holdings, Inc. (Nasdaq: VWAV) is a dual-market autonomous systems platform company developing AI-driven, RF-based sensing, autonomy, and computational acceleration technologies for defense, homeland security, and commercial infrastructure applications. VisionWave’s mission is to connect defense innovation with civilian progress through shared core technologies deployed across air, land, and sea.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding VisionWave’s proposed acquisition of C.M. Composite Materials Ltd., anticipated strategic benefits, potential international expansion opportunities, and the Company’s strategic initiatives. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Forward-looking statements are generally identified by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "predict," and similar expressions, or by statements that events or trends "may," "will," or "could" occur. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including but not limited to, the ability to satisfy closing conditions for the proposed transaction, including receipt of required regulatory approvals and satisfaction of other customary closing conditions; the availability of financing on acceptable terms; geopolitical risks associated with operations in Israel and potential expansion into other international markets; risks related to the establishment and operation of facilities outside Israel; integration risks following the acquisition; changes in market conditions affecting the aerospace and defense sectors; risks associated with C.M.’s ongoing creditor obligations and compliance therewith; and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release and in the Company's SEC filings. VisionWave undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements.

Contacts:

VWAV - Investor Contact: investors@vwav.inc

Website: https://www.vwav.inc