PLRZ Stock Jumps 6% In Pre-Market – Why Is This Biotech Firm Diversifying Into Aviation Business?
Synopsis
The company announced that it recently signed an MoU to acquire a 51% stake in private aviation firm Arrow Aviation for around $5.8 million.
Shares of Polyrizon (PLRZ) gained 6% in premarket trading on Tuesday after the company announced that it recently signed a memorandum of understanding to acquire a 51% stake in global private aviation firm Arrow Aviation through a cash investment of NIS 18 million ($5.8 million).
Arrow Aviation provides private flights to the public sector, with specialized operations including air ambulances, medical evacuations, rescue missions, special-needs transport, medical tourism, and cargo services, including the transport of sensitive and hazardous materials under special licenses.
“We believe that this strategic move, upon completion, represents an exciting diversification opportunity for Polyrizon, allowing us to leverage our strong financial position to enter the dynamic private aviation market, a market set to grow to $41.38 billion by 2030, through a potential acquisition of a high-growth, high-potential company,” said Tomer Izraeli, CEO of Polyrizon.
$1 = NIS 3.1<
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