Benzinga | Aug 19, 2021 01:51PM EDT

Byrna Technologies Acquires Assets Of Ballistipax For Undisclosed Sum

* Byrna Technologies Inc (NASDAQ:BYRN) has acquired the assets of Ballistipax, a developer of single-handed, rapidly deployable bulletproof backpacks, for undisclosed financial terms.

* Byrna acquired several Ballistipax trademarks, two patents, finished goods, raw materials inventory, and other assets.

* Byrna funded the acquisition with cash on hand. It held cash of $5.3 million as of May 31, 2021.

* Byrna plans to offer the protective backpacks under the "Byrna Shield" product name in three configurations with an MSRP ranging from $339 to $899.

* Price Action: BYRN shares traded higher by 0.95% at $24.35 on the last check Thursday.