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AeroVironment enters into strategic relationship with CybAero

AeroVironment has entered into a strategic relationship with Sweden-based CybAero AB to develop and distribute a Tier II vertical takeoff and landing unmanned aircraft system in response to unmet requirements from multiple customers. The relationship gives AeroVironment exclusive rights to provide CybAero AB systems to United States customers and to government customers in NATO and other countries. AeroVironment has agreed to purchase up to $3M in convertible notes from CybAero to facilitate the company’s growth.