Aurora Flight Sciences Announces $15 Million Debt and Equity Financing Agreement

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Manassas, VA (Aurora Flight Sciences)

Aurora Flight Sciences Corporation, a leader in the design and production of specialized unmanned aircraft, announced today the completion of a $15 million financing agreement with a private equity firm based in New York, NY. Under this agreement Aurora obtained $10 million of subordinated debt, $2 million of common equity and issued warrants for another $3 million of common equity over the next six months. Cowen & Company served as exclusive placement agent.

“This investment provides significant capital to fund the Company’s growth and expansion plans over the next several years”, said John Langford, Aurora’s President and CEO. “We are excited not just about the financial support provided by our new partner, but look forward to working with them on a strategic basis as well. Through their industry and international relationships, we expect them to help develop and guide Aurora’s product development strategy in this complex and changing world.”

About Aurora Flight Sciences

Aurora Flight Sciences designs and builds robotic aircraft and other advanced aerospace vehicles for scientific and military applications. Aurora is headquartered in Manassas, VA and operates production plants in Clarksburg, WV and Columbus, MS and a Research and Development Center in Cambridge, MA. To view recent press releases and more about Aurora please visit our web site at www.aurora.aero.