Draganfly Secures $2 Million in Direct Offering
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Draganfly Enhances Financial Position with Successful Offering
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A), a leader in drone solutions and systems development, has successfully closed an offering, securing approximately $2.0 million in gross proceeds. This offering included the sale of 16,666,666 units, each consisting of a common share (or a pre-funded warrant in lieu of a common share) and a warrant for one common share. The public offering price was set at $0.12 per unit.
Details of the Offering
Each warrant associated with the offering has an exercise price of $0.15 and is exercisable immediately. The warrants will expire five years from their issuance date. This strategic move solidifies Draganfly's cash position, allowing the company to enhance its operational capabilities and meet the growing demand for its innovative products.
Utilization of Proceeds
Draganfly plans to utilize the net proceeds from the offering for various general corporate purposes. This includes funding new product initiatives, growth strategies, and meeting working capital needs. The focus will be on continuing development and marketing of the company's core products, potential acquisitions, and research and development efforts.
Role of Maxim Group LLC
Maxim Group LLC served as the sole placement agent for this offering, facilitating the successful completion of the transaction. Their expertise in the financial markets played a crucial role in enabling Draganfly to attract investors.
Regulatory Compliance
The offering was executed in accordance with an effective shelf registration statement on Form F-10. This statement was filed with and subsequently declared effective by the U.S. Securities and Exchange Commission. This regulatory framework allows Draganfly to operate efficiently without the need for repeated compliance hurdles.
Impact on Future Operations
The successful closure of this offering is expected to have a significant impact on Draganfly's future operations. By enhancing its capital base, Draganfly is poised to accelerate its growth trajectory and better respond to market demands for its advanced drone technologies.
About Draganfly Inc.
Draganfly Inc. is at the forefront of developing drone solutions and systems, leveraging cutting-edge technology and artificial intelligence. The company remains committed to innovation and excellence in the drone industry, continually pushing the boundaries of what is possible with aerial technology.
Contact Information
For media inquiries, please reach out to:
Erika Racicot at media@draganfly.com.
For company-related questions, contact:
Email: info@draganfly.com.
Frequently Asked Questions
What is the total amount raised in Draganfly's recent offering?
Draganfly raised approximately $2.0 million through the successful closing of its direct offering.
What will the proceeds from the offering be used for?
The proceeds will be used for general corporate purposes, growth initiatives, development and marketing of core products, and potential acquisitions.
Who acted as the placement agent for this offering?
Maxim Group LLC acted as the sole placement agent for Draganfly's offering.
What are the terms of the warrants issued in the offering?
The warrants have an exercise price of $0.15 and can be exercised immediately, expiring five years after issuance.
What does Draganfly specialize in?
Draganfly specializes in drone solutions, software, and AI systems that enhance operational efficiencies in various industries.
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