- The ‘Switchblade’ flying car has passed US FDA safety tests
- DXN sells its digital infrastructure to Flow2Edge for $26m
- Video tech company Atomos appoints new CEO
Samon Sky’s flying sports car just passed the safety tests of the US Federal Aviation Administration (FAA) and is ready for market launch.
The ‘Switchblade’ has foldable wings and a retractable tail that takes 3 minutes to pack up and down, plus it can be parked inside a residential garage.
You can fly it at a top speed of 200mph (321km/h) in the sky or even drive it at 125mph (201km/h) if you’re feeling old fashioned.
The basic model will set you back US$150,000 and apparently 1,600 people have already jumped on the waitlist.
While the vehicle has been approved by the FAA, that only means that Samson Sky can sell it – buyers might need permission from local authorities before they drive/fly it.
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The infrastructure-as-a-service (IaaS) player is selling all its business assets and subsidiaries to Flow2Edge Australia – a digital infrastructure provider – for a tidy $26m.
Net cash proceeds following the completion of the transaction and repayment of DXN’s debts will be distributed to shareholders, currently estimated to be in the range of $0.011-$0.013 per share.
“We have not taken this decision lightly. This transaction is not only a good offer, it also enables us to address the capital requirements for the business going forward,” chairman John Baillie says.
“Further, it leverages the experience and footprint of FLOW Digital Infrastructure.
“We are excited about the opportunities this will create for our customers in the medium to long term.”
Flow believes the Asia Pacific region is currently underinvested in digital infrastructure and an opportunity exists to address gaps in the digital ecosystem, and that the region has substantial runway for growth underpinned by emerging market demand, core data centres, fibre networks and edge computing.
DXN also intends to undertake a $2.125 million placement to fund its working capital position up until the expected completion date of the transaction, which is subject to approval of both the Foreign Investment Review Board (FIRB) and shareholders.
Video tech company Atomos has appointed its CEO in Trevor Elbourne, who was made interim CEO and CTO in April, shortly after which he successfully launched the company’s new cloud-based products and services.
Back in 2018 Elbourne oversaw the successful development of Atomos’ flagship Ninja V and Shinobi products as CTO.
“Having been part of the Atomos success story for a decade, it is gratifying to now drive the company’s vision and strategy as its chief executive and I feel confident that our exciting product pipeline will support our future growth prospects,” Elbourne said.
The IoT company has raised $1.5m at $0.08 per share to help accelerate its sales and growth strategy.
The company’s Senoa product suite will soon include an accessibility range for living space occupied by people with disabilities, covered by the National Disability Insurance Scheme (NDIS) which include a large switch size and voice control options for lights, fans, blinds etc.
And it’s also planning to launch a new breed of smoke detector in the second half of CY22.