Powerus Corporation has completed its previously announced merger with Aureus Greenway Holdings, Inc. (AGH). The transaction, originally agreed upon on March 8, 2026, and amended on July 17, 2026, closed on October 1, 2026. Under the terms of the Agreement and Plan of Merger, Powerus merged with and into a newly formed subsidiary of AGH, with Powerus continuing as the surviving entity. Consequently, AGH has been renamed Powerus Corporation.
Following the closing, each share of Legacy Powerus was converted into 599.18229 shares of the Company’s common stock. The Company issued approximately 134.6 million shares of common stock, along with approximately 21.8 million replacement options and 28.6 million replacement warrants, as Merger Consideration. Legacy Powerus stockholders now own approximately 83% of the Company’s issued and outstanding common stock, which increases to approximately 93% of the voting power after the purchase of the Company’s Series A Preferred Stock.
As part of the management transition, the outgoing directors Matthew Saker, Xinyue Jasmine Geffner, and Christopher Schraft resigned. The Board appointed Andrew Fox as Chairperson and Chief Executive Officer, Brett Velicovich as President, and Edward Jordan as Chief Financial Officer. The Company also dismissed its previous independent auditor, WWC, P.C., and appointed BDO USA, P.C. as the new independent registered public accounting firm.
Powerus, a U.S. defense technology company focused on autonomous drones, continues to trade on the Nasdaq Capital Market under the symbol PUSA. The Company highlighted recent milestones, including a purchase order from a defense prime contractor for the U.S. Department of War valued at approximately $2.5 million and a competitively awarded U.S. Air Force indefinite-delivery/indefinite-quantity (IDIQ) contract for its Guardian-2 counter-drone interceptor with a ceiling value of up to $90 million.
