UVision Air Targets Nasdaq IPO for Loitering Munitions

UVision's Hero 90 loitering munition, also known as suicide drone

(photo credit: UVISION)

ByEITAN GERSTENFELD/GLOBES/TNS

JUNE 22, 2026 08:33

Businessman Aaron Frenkel intends to list missiles and suicide drones maker UVision Air on Nasdaq, a firm he owns outright. The effort seeks to raise capital at a valuation between 3 and 3.5 billion dollars.

UVision plans to issue an initial prospectus next month, according to information obtained by Globes, with the listing wrapped up once first quarter results are available. Earlier this year the firm explored bringing in Israeli institutions at a comparable valuation, yet those parties pushed for substantially lower figures, prompting the decision to proceed independently.

The move marks a major valuation jump for Frenkel, who bought the business roughly fifteen years ago. Back in 2011 he acquired UVision for around 110 million dollars.

Order backlog of about $370 million

Headquartered in Emek Hefer, the company employs more than 250 people and holds an order backlog near 370 million dollars. Its Hero line of advanced loitering munitions and missiles reaches over thirty armed forces worldwide. The largest variant, the Hero 1250, features a 50-kilogram warhead, exceeds 200 kilometers in range, and supports missions lasting up to ten hours.

Dr. Ran Gozali has served as CEO for the past eighteen months after holding senior roles at Rafael Advanced Defense Systems. Chairman Ilan Gifman, a longtime associate of Frenkel and former Aspen Group chief executive, now helps oversee the investor's European real estate holdings and Israeli board seats including Alony Hetz.

In October 2025 UVision secured a major agreement with Mistral to deliver suicide drones to the US Army under a 982 million dollar multi-year pact beginning in 2026. The contract covers equipment supply, integration with field units, training, and sustained maintenance.

The selected platform is the Hero 120, offering a 60-kilometer maximum range and roughly one hour of flight time. Operators view live feeds from electro-optical and infrared cameras, enabling course adjustments or mission cancellation to avoid civilian areas. Missions can run fully autonomously or shift control to forward units for improved coordination.

Jerusalem Post Staff contributed to the report