Draganfly Secures $25 Million Through Direct Offering of Units
Draganfly Inc. Closes $25 Million Registered Direct Offering
Draganfly Inc. (NASDAQ: DPRO), a leader in drone technology and robotics, has completed a successful registered direct offering of its units, securing approximately $25 million in gross proceeds. This move highlights the company's commitment to advancing its innovative solutions and addressing growing market demands.
Details of the Offering
The offering consisted of 4,672,895 units at a price of $5.35 per unit. Each unit includes one common share and one common share purchase warrant. These warrants allow holders to purchase an additional common share at an exercise price of CA$7.3579, which is equivalent to the initial US price, and will be valid for five years from the issue date.
Use of Proceeds from the Offering
With the funds raised, Draganfly plans to enhance its capacity to meet growing consumer demand for its new and existing drone products. The proceeds are aimed at general corporate purposes, including research and development, marketing efforts, and potential acquisitions that align with their growth initiatives.
Overview of Draganfly's Position in the Market
Draganfly, known for its innovative drone solutions and AI-driven software, has over 25 years of industry experience. The company has positioned itself at the forefront of drone technology, delivering solutions for various sectors such as public safety, agriculture, and industrial inspections. Draganfly prides itself on providing reliable technology that saves time and resources while enhancing safety.
Commitment to Innovation
The company's strategic focus on innovation ensures it stays ahead in the rapidly evolving drone market. Draganfly constantly invests in R&D to develop cutting-edge technology that addresses emerging needs across diverse industries.
Regulatory Aspects and Compliance
This offering was conducted as per the effective shelf registration statement on Form F-10 that was filed with the U.S. Securities and Exchange Commission (SEC). The company maintains high standards of regulatory compliance, ensuring transparency and accountability in all its financial operations.
Contact Details for Inquiries
For any inquiries related to the offering or company, interested parties can reach out to Maxim Group LLC, the placement agent for this offering. Additionally, customers and partners can contact Draganfly directly for more information about their products and services, further emphasizing their commitment to customer engagement.
Frequently Asked Questions
What was the total amount raised in the offering?
Draganfly raised approximately $25 million through the registered direct offering.
What does each unit in the offering consist of?
Each unit consists of one common share and one warrant that allows the purchase of an additional common share at a specified price.
How does Draganfly plan to use the proceeds?
The proceeds will be used for general corporate purposes, including funding the development and marketing of new drone technologies.
Who acted as the placement agent for the offering?
Maxim Group LLC served as the sole placement agent for Draganfly's registered direct offering.
What industries does Draganfly serve?
Draganfly provides drone solutions for various sectors, including public safety, agriculture, industrial inspections, and security.
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