Draganfly Secures US$3.76 Million in Recent Direct Offering

Draganfly Conducts Successful Direct Offering

Draganfly Inc. (NASDAQ: DPRO) has made headlines recently with its successful entry into a direct offering agreement, raising a total of approximately US$3.76 million. This financial maneuver is expected to bolster the company’s efforts in developing innovative drone solutions and advancing its technology capabilities.

Details of the Offering

The offering involves a single institutional investor purchasing 1,600,000 units, with each unit containing one common share or one pre-funded warrant to purchase one common share, alongside one warrant for an additional common share. The price for each unit was set at US$2.35, which translates into significant gross proceeds for the company. This funding is pivotal as Draganfly aims to expand its product lineup and cover various operational expenses.

The Role of Maxim Group LLC

In this important transaction, Maxim Group LLC has stepped in as the sole placement agent, ensuring a smooth execution of this offering. Their expertise and industry knowledge play a vital role in facilitating this funding process.

Adjustments to Existing Warrants

Draganfly's recent offering also includes noteworthy changes concerning previously issued warrants. The company intends to amend the exercise price of existing warrants held by its investors, bringing this down to CA$3.3086 (approximately US$2.35) per share. This decision could positively influence investor sentiment and strengthen relationships with existing stakeholders.

Strategic Use of Proceeds

Moving forward, Draganfly plans to utilize the net proceeds from this offering for crucial corporate purposes. This includes funding initiatives to meet the growing demand for its new products and supporting ongoing marketing efforts. Additionally, the company is eyeing potential acquisitions and investing in research and development to remain competitive within the burgeoning drone market.

The Importance of Regulatory Approvals

The completion of the offering remains contingent on customary closing conditions, which encompass obtaining all the necessary regulatory approvals. Specifically, Draganfly awaits approval from the Canadian Securities Exchange and notification from the Nasdaq Stock Market, highlighting the rigorous compliance framework within which the company operates.

Looking Ahead

With plans to wrap up the offering shortly, Draganfly is setting the stage for growth and innovation in the rapidly evolving drone industry. The anticipated timeline for closing is around mid-November, and the company is focused on ensuring all closing conditions are met in a timely manner. This offering not only reflects Draganfly's commitment to its shareholders but also its vision of enhancing global operational capabilities through advanced drone solutions.

About Draganfly Inc.

Draganfly Inc. (NASDAQ: DPRO) is a renowned developer of drone solutions, innovative software, and AI systems. As a visionary in the drone industry, Draganfly remains committed to pushing the boundaries of technology while providing exceptional services and products to its clients.

Frequently Asked Questions

What is the purpose of the recent offering by Draganfly?

The offering aims to raise funds for general corporate purposes, including product development, marketing, and potential acquisitions.

Who acted as the placement agent for the offering?

Maxim Group LLC served as the sole placement agent for the direct offering.

What changes are being made to existing warrants?

Draganfly plans to amend the exercise price of existing warrants to CA$3.3086 (approximately US$2.35) per share.

When is the offering projected to close?

The offering is expected to close around mid-November, subject to obtaining necessary approvals.

Where can I find more information about Draganfly?

More information about Draganfly Inc. and its offerings can be found on their official website and their profiles on financial regulatory sites.

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