Beam Global Announces Termination of Agreement to Acquire ScoutDI
Key Highlights
- ➤Beam Global (BEEM) terminates ScoutDI acquisition agreement after November 4 long-stop date
- ➤U.S. public-market conditions, especially for micro caps, prevented transaction closing
- ➤No fees, penalties, or financial liabilities are due to either party
- ➤ScoutDI remains independent under its current ownership and management
- ➤Desmond Wheatley says ScoutDI is exceeding initial performance expectations
Expert Statements
Desmond Wheatley, Chairman and CEO of Beam Global
“ScoutDI is an excellent company with an excellent team and equally excellent products. They are currently exceeding our initial performance expectations developed when we first contemplated a business combination with them”
SAN DIEGO, Nov. 06, 2026 (GLOBE NEWSWIRE) -- Beam Global (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for energy storage and security, electrification of mobility, and smart city infrastructure, announces that the Share Purchase Agreement for the acquisition of Norwegian drone technology company ScoutDI, announced on October 7, 2026, has been terminated. The transaction did not close by the agreed long-stop date of November 4, 2026, as a result of current unfavorable conditions in the U.S. public markets. No fees, penalties, or other financial liabilities for either party are due as a result of the termination.
ScoutDI will continue as an independent company under its current ownership and management.
Get started
Create a free account to read the full story.