EMEK HEFER — UVision Air plans an initial public offering on the Nasdaq stock exchange, targeting a valuation between $3 billion and $3.5 billion. The company intends to publish an initial prospectus in July 2026.

Aaron Frenkel fully controls UVision Air, having acquired the company in 2011 for an estimated $110 million. Frenkel is expected to sell some of his shares in the offering. Before committing to the IPO, UVision Air considered bringing in Israeli institutional investors at a valuation similar to its flotation target, but those investors demanded a lower valuation, and the company decided to proceed without them.

Based in Emek Hefer, UVision Air employs more than 250 people and holds an order backlog of approximately $370 million. The company sells its "Hero" line of products to over 30 armies and countries globally.

In October 2025, UVision Air signed a multi-year contract with Mistral to supply suicide drones to the U.S. Army, with deliveries beginning in 2026. Valued at $982 million, the contract includes equipment procurement, integration into U.S. Army field forces, training, exercises, and ongoing maintenance. The U.S. Army selected the UVision Hero 120 model for this contract; the Hero 120 has a maximum range of 60 kilometers and an operating time of about one hour.

The Hero product line includes a system that allows remote operators to view what the loitering weapon observes through electro-optical and infrared cameras. This system enables operators to make minor course corrections or cancel a mission if innocent bystanders are identified. The munitions can carry out missions autonomously from start to finish or transfer operations to a field unit. The Hero 1250 model carries a 50-kilogram warhead, has a range exceeding 200 kilometers, and can operate for up to 10 hours.

Dr. Ran Gozali has served as CEO of UVision Air for the past 18 months, having previously held senior positions at Rafael Advanced Defense Systems. Ilan Gifman serves as chairman of UVision Air. Gifman, an accountant by profession, previously served as CEO of Aspen Group and serves as a director of investments in Alony Hetz on behalf of Aaron Frenkel.