Aureus Greenway Holdings Inc. (Nasdaq: PUSA) and Autonomous Power Corporation, doing business as Powerus, announced that the U.S. Securities and Exchange Commission declared effective a Form S-4 registration statement filed in connection with their proposed business combination on Aug. 12, 2026.

The SEC's declaration of effectiveness does not constitute approval of the registration statement or the proposed combination. The two companies said they expect to complete the merger in early October 2026, subject to remaining closing conditions, with no assurance provided on timing or completion.

Under the terms of the agreement, Powerus will merge into a newly formed subsidiary of AGH, with the combined company to be renamed Powerus Corporation and expected to continue trading on Nasdaq under the ticker "PUSA."

Andrew Fox, founder and chief executive of Powerus, said the milestone reflects progress in building "a scaled U.S. autonomy platform, advancing our technology across air, ground and maritime systems." Matthew Saker, interim chief executive of AGH, said the company looks "forward to working with the Powerus team to complete this transaction."

Alongside the announcement, Powerus noted several previously disclosed developments, including a U.S. Air Force indefinite-delivery/indefinite-quantity contract for its Guardian-2 counter-drone interceptor with a ceiling value of up to $90 million through mid-2028, a $2.5 million purchase order from a defense prime contractor for 1,500 FPV aircraft, and a $30 million strategic equity investment from Unusual Machines Inc. (NYSE American: UMAC). The company also cited a distribution agreement valued at $60 million for its agriculture division in Australia and New Zealand, and a memorandum of understanding with Swarmer Inc. (Nasdaq: SWMR) to explore software integration.

AGH currently owns and operates golf course properties in Florida. The combined entity would shift focus to autonomous systems spanning air, ground, and maritime platforms.