Lucosky Brookman LLP Serves as Counsel to Precision Aerospace & Defense Group, Inc. in Signing of Business Combination Agreement with FACT II Acquisition Corp.
Precision Aerospace & Defense Group, Inc. (PAD), a high-growth aerospace and defense engineering and manufacturing firm, and FACT II Acquisition Corp. (NASDAQ: FACT), a special purpose acquisition company, announced the signing of a definitive business combination agreement. Upon closing, the combined company will operate under the name Precision Aerospace & Defense Group, Inc., with an implied enterprise value of up to $320 million.
The combined company is expected to be led by PAD’s existing management team, with Brent Borden continuing as Chief Executive Officer. PAD operates through three complementary divisions—engineering & sustainment, precision manufacturing, and advanced non-destructive testing—providing mission-critical products and services to aerospace, defense, and space sectors. The company serves blue-chip defense contractors, OEMs, and U.S. government organizations through multi-year contracts and maintains multiple AS9100-certified and ITAR-registered facilities across the United States.
The business combination provides PAD with strategic growth capital and funding to optimize its balance sheet, pursue acquisitions, and accelerate operational initiatives. PAD has also entered into a non-binding indicative term sheet with BC Partners relating to potential credit facility and equity financing of up to $80 million, subject to customary conditions. Following the business combination, PAD’s current shareholders are expected to own approximately 59% of the combined company’s outstanding shares.
Lucosky Brookman LLP served as legal counsel to Precision Aerospace & Defense Group, Inc.
Other advisors to the transaction included:
- BTIG, LLC - sell-side advisor and debt placement agent to PAD
- Paul Hastings LLP - legal counsel to FACT
- Ellenoff Grossman & Schole LLP - counsel to BTIG
Related Professionals: Joseph Lucosky, Seth Brookman, Victoria Baylin, Ian Liao, Penny Somer-Greif, Steven Lipstein, Raymond Ressy, Jon Monna, Alexandra Smyrnios, Alexa Gordon