Draganfly Seals $3.76 Million Offering to Fuel Growth Initiatives

Draganfly Completes $3.76 Million Financing round

Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A), a leader in drone technologies and innovative solutions, has just finalized its latest funding round, securing US$3.76 million. This registered direct offering is pivotal for the company, underscoring its commitment to expand its portfolio and enhance its operational capabilities.

Details of the Offering

The offering consisted of 1,600,000 units, where each unit included a common share or a pre-funded warrant in lieu of the common share, combined with a warrant for another share of common stock. Each unit was sold at a price of US$2.35, contributing to the gross proceeds mentioned earlier, before the deduction of any expenses related to closing the offering.

Warrant Adjustments and Impact

As part of this financing, the company has strategically adjusted the existing warrants resulting from past offerings. These adjustments lower the exercise price significantly, making it more appealing for current investors. The amended exercise price for the warrants previously issued was revised to CA$3.3086 (or US$2.35) per share, facilitating a smoother transition for both the company and its stakeholders.

Use of Proceeds

The proceeds from this offering are designated for several critical initiatives within Draganfly. These include advancing their technology, ramping up production capacities, and focusing on their ongoing research and development efforts. The company is also eyeing potential acquisitions that could synergize with its current operations.

Role of Maxim Group

Maxim Group LLC has been the sole placement agent for this offering. Their expertise is invaluable in navigating the complexities of such transactions, ensuring that Draganfly taps into the capital necessary for its growth.

Draganfly: A Glimpse into Their Future

Draganfly is pushing boundaries in the drone industry, continually innovating to refine their drone solutions and software integrations. The company’s focus on AI systems is particularly notable, aligning with market trends toward increased automation and intelligent robotics.

Commitment to Quality and Customer Satisfaction

Fostering customer relationships is at the core of Draganfly’s operations. Their commitment to delivering high-quality, reliable drone solutions has earned them a solid reputation in the market. This recent funding round is not just a financial boost; it’s a resounding acknowledgment of the market’s belief in Draganfly’s direction.

Engaging Stakeholders and Maintaining Transparency

Draganfly has assured its stakeholders that thorough documentation related to the offerings, including a prospectus supplement, is readily available. This demonstrates the company’s transparency and opens channels for investor engagement. Information can be sourced directly from SEDAR+ and SEC filings which describe the terms of the offering thoroughly.

Future Growth Strategies

With this fresh influx of capital, Draganfly is poised to enhance its production capabilities and market reach. The management team envisions strategic growth initiatives that would not only bolster their current product lineup but also introduce innovative solutions that meet the demands of a rapidly evolving market.

Frequently Asked Questions

What is the purpose of the recent US$3.76 million offering?

The funds will be utilized for general corporate purposes, including product development, working capital, and possible acquisitions.

Who acted as the placement agent for the offering?

Maxim Group LLC acted as the sole placement agent for this registered direct offering.

What adjustments were made to the existing warrants?

The exercise price of the existing warrants was reduced to CA$3.3086 (or US$2.35) per share as part of the offering.

How is Draganfly planning to utilize the proceeds?

Draganfly plans to enhance its technology, support working capital needs, and drive growth initiatives with the proceeds.

Where can investors find more information about the offering?

Investors can obtain detailed information from the company's filings on SEDAR+ and the SEC's official website.

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