Powerus Merger Closes as PUSA Keeps Its Nasdaq Symbol, Highlighting a Pipeline with a $90 Million IDIQ Ceiling
The merger is now effective, and the combined company is operating publicly under PUSA without a ticker change
Autonomous Power Corporation, dba Powerus, and Aureus Greenway Holdings Inc. (NASDAQ:PUSA) announced they have completed their previously announced merger, effective October 1, 2026. Powerus merged into a newly formed subsidiary of AGH, with Powerus continuing as the surviving entity, and AGH has been renamed Powerus Corporation.
Importantly for market continuity, shares continue to trade on the Nasdaq Capital Market under the symbol PUSA. The company noted that AGH adopted the symbol earlier in anticipation of the combination, and there was no change to the symbol in connection with completion.
| Item | Detail (as stated) |
|---|---|
| Effective date | October 1, 2026 |
| Surviving entity | Powerus (surviving entity after merging into AGH subsidiary) |
| New public-company name | AGH renamed to Powerus Corporation |
| Exchange and symbol | Nasdaq Capital Market, continues as PUSA (no symbol change) |
Midday trading shows PUSA at $3.35, reflecting investor focus on the newly combined story
During market hours and as of 11:36 AM, PUSA traded at $3.35, up $0.15 on the session (4.69%). While the press release centers on the corporate transaction and operating milestones, the midday move places a spotlight on how investors may be repricing the combined company after the merger’s completion.
| Metric (11:36 AM) | Value |
|---|---|
| Stock price | $3.35 |
| Change | $0.15 |
| Percent change | 4.69% |
Management messaging emphasizes scaling production, not changing priorities because of the listing
The release frames the transaction as a means to bring an operating autonomous systems business into the public markets. Matthew Saker, former interim CEO of AGH, described the rationale as combining with a U.S.-headquartered autonomous systems company “that was already building and selling,” adding, “Today that company is public. That was the point of the transaction.”
Powerus CEO Andrew Fox said, “Completing this transaction puts Powerus in a position to build at the scale our customers are asking for,” and added that the company’s focus “does not change on October 1.” Co-Founder Brett Velicovich similarly stressed continuity in product standards despite becoming publicly listed.
The most eye-catching disclosed figure is an Air Force IDIQ ceiling of up to $90 million, but it is not a guaranteed award
Among the milestones reiterated in the announcement, the largest headline number is a competitively awarded U.S. Air Force indefinite-delivery/indefinite-quantity (IDIQ) contract for the company’s Guardian-2 counter-drone interceptor, with a ceiling value of up to $90 million and a term running through mid-2028. The company also highlighted a limited procurement order for Guardian-2 Interceptor systems placed following a successful demonstration.
The release repeatedly underscores the difference between ceilings, limited orders, and firm demand. For the IDIQ, it notes the ceiling is a maximum value and that orders are placed at the government’s discretion; actual awards may be materially less than the ceiling.
| Milestone category | What was disclosed | Caveat highlighted in the release |
|---|---|---|
| U.S. Air Force IDIQ (Guardian-2) | Ceiling value up to $90.00 million; term through mid-2028 | Ceiling only; orders discretionary; actual awards may be materially less |
| U.S. Air Force limited procurement (Guardian-2) | Order placed following a successful demonstration | Does not guarantee future orders or program-of-record status |
Additional milestones span defense, international activity, and agriculture distribution—with repeated “not a commitment” language
Beyond the IDIQ ceiling, the company listed multiple previously announced developments across customers, partnerships, and expansion efforts. These included a purchase order valued at approximately $2.50 million (per the company) for 1,500 U.S.-manufactured FPV aircraft plus related kits; advancement to Phase 3 of the U.S. Army’s xTech Adaptive Strike Competition; and the launch of an agriculture division tied to a $60 million Australia–New Zealand distribution agreement (per the company) and a U.S. partnership with Sprig Aerospace.
It also cited a $30 million strategic equity investment in Powerus by Unusual Machines, Inc. (NYSE:UMAC) (per the company), plus an order by Powerus with Unusual Machines valued at more than $5 million for U.S.-made, NDAA-compliant components—explicitly noted as a purchase by Powerus and not Powerus revenue. Additional items included a memorandum of understanding with Swarmer, Inc. (NASDAQ:SWMR), the establishment of a Guardian manufacturing facility in the United Arab Emirates via a multi-year partnership, and designation as an industry participant supporting Falcon Peak 26.2.
| Area | Item mentioned | Stated value (if provided) | How the release frames it |
|---|---|---|---|
| Defense purchase order | Purchase order from a defense prime contractor for 1,500 FPV aircraft plus kits | ~$2.50 million (according to Powerus) | Does not guarantee future orders or program-of-record status |
| Army competition | Advanced to Phase 3 of xTech Adaptive Strike Competition | N/A | Prize competition participation is not a procurement contract |
| Agriculture expansion | Australia–New Zealand distribution agreement; U.S. partnership with Sprig Aerospace | $60.00 million (according to Powerus) | Distribution agreements are sales arrangements, not firm purchase commitments |
| Strategic investment | Equity investment by Unusual Machines (UMAC) | $30.00 million (according to Powerus) | Strategic investment noted as deepening supply/manufacturing relationship |
| Components procurement | Powerus order with Unusual Machines for components | >$5.00 million (according to Powerus) | Purchase by Powerus; explicitly not Powerus revenue |
| Software collaboration | MOU with Swarmer (SWMR) to explore integration feasibility | N/A | Exploratory; not a definitive agreement; may not result in one |
| International manufacturing | Dedicated Guardian counter-UAS facility in the UAE via multi-year partnership | N/A | No guarantee of production levels, sales, or continuing relationship |
The key investor takeaway is that multiple cited “values” are ceilings, arrangements, or early-stage steps—not assured revenue
Across the release, Powerus pairs large-sounding figures and milestones with explicit limitations: IDIQ ceilings are maximums, limited procurements don’t guarantee follow-on awards, distribution agreements aren’t firm purchase commitments, and memoranda of understanding may not become definitive agreements. For investors tracking PUSA post-merger, the announcement provides a clearer map of where potential demand could emerge—and the boundaries around what is and is not committed today.
What Powerus says it does: unified autonomous systems across air, maritime, mission systems, and U.S.-based manufacturing
Powerus describes its business as building and scaling unified autonomous systems designed to move, protect, and sustain critical assets in high-risk environments. The company lists capabilities spanning heavy-lift platforms, autonomous air systems, autonomous maritime systems, mission systems, training and support, and U.S.-based manufacturing.
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