Sadot Group Inc. announced on October 12, 2026, that it has terminated a previously established Joint Venture and Operating Agreement with VisionWave Holdings, Inc. and related entities. The termination was necessitated by the inability of C.M. Composite Materials Ltd. (CM), an Israeli advanced-composites manufacturer, to produce the required quarterly and annual financial statements.
Under the original agreement, Sadot committed to contributing $7,814,323 in cash to the joint venture entity, CMJV LLC, in tranches over twelve months. The company also agreed to issue 250,000 shares of its common stock to VisionWave as an entry premium. However, CM notified the parties on or about October 8, 2026, that it could not produce the required financial statements or engage an independent auditor within an acceptable timeframe. Consequently, no draw requests were approved and no funding occurred prior to the termination.
The termination agreement, effective October 12, 2026, extinguishes Sadot’s capital commitment and cancels the company’s 7,814,323 units of membership interest in CMJV. As a result, VisionWave is now the sole member of CMJV and retains all rights relating to CM. In exchange for retaining the 250,000 Entry Premium Shares and releasing Sadot from its obligations, VisionWave has agreed to issue 500,000 shares of its common stock to Sadot. The company noted that it did not incur any early termination penalties or fees.
The termination was approved by Sadot’s board of directors, with the directors other than Haggai Ravid, who serves on both boards, approving the agreement following the disclosure of his relationship with VisionWave. The 250,000 shares previously issued to VisionWave remain outstanding.
