Gadfin

Definitive (DA signed)

Aerospace and defense

What it is: Gadfin Ltd.: Gadfin is a pioneering technology company revolutionizing the logistics and cargo delivery industry with its innovative hydrogen-powered drones
What it’s doing now: Merging with Israel Acquisitions Corp (ISRLF) — definitive (da signed), announced Jun 17, 2026.
What you should know: Data is still being assembled for this company — what is shown below is everything we have verified so far.

The business, per its filings

SEC primary

Gadfin Ltd.: Gadfin is a pioneering technology company revolutionizing the logistics and cargo delivery industry with its innovative hydrogen-powered drones. Specializing in long-range, heavy-duty, zero-emission aerial delivery, Gadfin provides cutting-edge solutions for time-critical, essential cargo transport, especially to less accessible areas. Gadfin’s proprietary technology is designed to address the evolving needs of sectors such as healthcare, logistics, and industrial supply chains, enabling efficient, sustainable, and reliable deliveries across urban and remote areas. Led by Eyal Regev, one of the earliest pioneers of the vertical take-off and landing (“VTOL”) cargo delivery vision, Gadfin’s comprehensive approach includes innovative VTOL design, state-of-the-art drone manufacturing, advanced operational platforms, and tailored support services, ensuring seamless integration into its clients’ logistics frameworks. Headquartered in Israel, Gadfin is pioneering the way in transforming how goods are transported, helping its partners meet the demands of the modern world while reducing environmental impact. Backed by prominent investors, SIBF VC (www.sibf.vc) and Gehr Group (www.gehr.com), Gadfin is poised to lead the charge in sustainable and efficient logistics solutions.

What the company says about itself

Web research — not audited

What our web check found

[WEB-INTEL 2026-08-25] 7 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Gadfin equity value of $180,000,000 in NewPubco shares" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Minimum Cash Condition of at least $15,000,000 of aggregate transaction proceeds" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "outside termination date of April 15, 2026" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "termination fees... $10,000,000" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Agreement termination date: June 22, 2026" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Maximum sponsor share forfeiture: 1,429,000 shares" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "DILUTION CAP THRESHOLD 30%" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] [WEB-INTEL 2026-08-25] 18 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The parties anticipate completing the business combination in the second half of 2025" [https://www.globenewswire.com/news-release/2025/01/27/3015462/0/en/gadfin-ltd-and-israel-acquisitions-corp-announce-entry-into-definitive-business-combination-agreement-bringing-the-unmanned-aerial-delivery-company-to-nasdaq.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Minimum net cash condition precedent to closing of $15 million" [https://www.globenewswire.com/news-release/2025/01/27/3015462/0/en/gadfin-ltd-and-israel-acquisitions-corp-announce-entry-into-definitive-business-combination-agreement-bringing-the-unmanned-aerial-delivery-company-to-nasdaq.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "reflecting a total equity value of Gadfin of up to $200 million USD" [https://www.globenewswire.com/news-release/2025/01/27/3015462/0/en/gadfin-ltd-and-israel-acquisitions-corp-announce-entry-into-definitive-business-combination-agreement-bringing-the-unmanned-aerial-delivery-company-to-nasdaq.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "valuing Gadfin at $180,000,000 in NewPubco shares" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Closing requires, among other conditions, at least $15,000,000 of aggregate transaction proceeds" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "an outside termination date of April 15, 2026" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "potential $10,000,000 termination fees" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "IPO gross proceeds: $143,750,000" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Trust Account Balance: $146,625,000" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Initial Public Offering of 14,375,000 units at $10.00 per unit on January 18, 2023" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Nasdaq MVLS Requirement: $50,000,000" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Agreement signing date: January 26, 2025" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Agreement termination date: June 22, 2026" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Maximum sponsor share forfeiture: 1,429,000 shares" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Dilution Cap Threshold: 30%" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Gadfin SPAC merger with ISLUF: $180M deal" [https://tickerspark.ai/market/gadfin-spac-merger] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The SPAC raised $143 million" [https://www.calcalistech.com/ctechnews/article/ryq58oyljl] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Gadfin has raised a total of $7M from 1 Series A round on May 04, 2022 from SIBF and The Gehr Group" [https://tracxn.com/d/companies/gadfin/__GIzllcGUgX81N5L6KG8pVxzsQcnzIbCw1IOpzh3yzPc/funding-and-investors] [WEB-INTEL 2026-08-25] 8 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "valuing Gadfin at $180,000,000 in NewPubco shares" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Minimum net cash condition precedent to closing of $15 million" [https://www.globenewswire.com/news-release/2025/01/27/3015462/0/en/gadfin-ltd-and-israel-acquisitions-corp-announce-entry-into-definitive-business-combination-agreement-bringing-the-unmanned-aerial-delivery-company-to-nasdaq.html] · web source asserts a FILING [WEB-INTEL 2026-09-07] 10 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Gadfin equity value of $180,000,000 in NewPubco shares" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Minimum Cash Condition of at least $15,000,000 of aggregate transaction proceeds" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "outside termination date of April 15, 2026" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "termination fees... $10,000,000" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "IPO gross proceeds: $143,750,000" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "TRUST ACCOUNT BALANCE $146,625,000" [https://www.stocktitan.net/sec-filings/ISRL/10-k-israel-acquisitions-corp-files-annual-report-8484e0510015.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Agreement signing date: January 26, 2025" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Agreement termination date: June 22, 2026" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Maximum sponsor share forfeiture: 1,429,000 shares" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "DILUTION CAP THRESHOLD 30%" [https://www.stocktitan.net/sec-filings/ISLUF/8-k-israel-acquisitions-corp-reports-material-event-6695bee611d8.html]

Source: company web presence · marketing claims are reported as claims, never merged into the filed figures above.

The deal it’s entering

Gadfin is merging with Israel Acquisitions Corp (ISRLF) currently marked Deal announced and trading at $12.60 against $10.20 in trust per share.

Headline equity value	$100M
Post-close ticker	GDFN

Structure per SEC accession(s) 0001104659-26-075149. How to read these numbers: headline vs effective valuation · what a definitive agreement commits

What exactly is being valued, and at what

Was this deal done at an expensive or a cheap valuation?

SpacBrain’s read on the price

No multiple can be computed

We hold no revenue figure in US dollars for Gadfin Ltd., so there is nothing to divide the price by and no multiple can be struck. It is not recorded as pre-revenue either — this is a gap in our record, not a finding that the company has no sales. The deal values it at $100M regardless.

We have not extracted a revenue figure for this company from its filings yet. That is our gap, not a statement about the business.

What the buyers are paying for the whole company$100M

Announced equity value (net debt unknown).

Divided by what the company actually sells in a yearno revenue figure on file

Not extracted from the filings yet.

= what this deal pays for every dollar of those salesno multiple

Not computable — no revenue figure has been extracted from the filings yet.

What the stock market pays for its closest listed peersno comparable multiple

No listed comparable carries a revenue multiple we can use.

What qualifies the figures above

The target's cash and debt are not in the filings we have, so this is an equity value used as a stand-in for enterprise value.

Common questions

Is Gadfin going public?

Gadfin has a signed merger with the SPAC Israel Acquisitions Corp (ISRLF), announced Jun 17, 2026. The combined company expects to trade as GDFN. Deal status: Definitive (DA signed).

What is Gadfin's SPAC deal valuation?

The announced headline equity value is $100M.

Was Gadfin bought at an expensive or a cheap valuation?

Does Gadfin have revenue?

The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.

Educational content, not investment advice.