Draganfly Secures $3.6 Million in Public Offering for Growth
Draganfly Announces Public Offering to Fuel Innovation
Draganfly Inc. (NASDAQ: DPRO) is making headlines with a major financial move aimed at enhancing its growth trajectory. The company has revealed the pricing details of its recently announced underwritten public offering, which involves the sale of 1,715,000 units at a price of US$2.10 each. This offering is set to generate gross proceeds of approximately US$3.6 million, poised to play a critical role in funding the company's initiatives.
Details of the Offering
Each unit sold in this offering comprises one common share along with one warrant for purchasing an additional common share. The warrants have an exercise price of CA$3.9779 (or US$2.875) per share and are immediately exercisable, with a five-year expiration period. Furthermore, Draganfly has granted the underwriter, Maxim Group LLC, a 45-day option to purchase up to an additional 15 percent of the securities offered. This approach helps ensure flexibility and adaptability in the dynamic market environment.
Use of Proceeds
The net proceeds from the offering will be directed towards several strategic goals. Draganfly plans to allocate these funds to not only bolster its product development efforts but also to enhance its marketing capabilities. This funding will support the company in meeting the rising demand for its innovative drone solutions, growth initiatives, and general working capital requirements.
Closing of the Offering
The anticipated closing date for this offering is around May 5, 2025, contingent upon meeting various customary closing conditions. It must also receive all necessary regulatory approvals to move forward. Draganfly is committed to maintaining transparency throughout this process, ensuring that shareholders and stakeholders are kept informed.
Regulatory Framework
This offering is conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. The company’s Canadian short form base shelf prospectus has also been made available, highlighting Draganfly's commitment to compliance and adherence to industry regulations.
Investing in Safety and Technology
Draganfly has positioned itself as a pioneer in the drone technology sector, focusing on delivering cutting-edge drone solutions, advanced AI-driven software, and robotics capabilities. With an impressive legacy that spans over 25 years, the company has established itself at the forefront of various applications, including public safety, security, agricultural enhancements, industrial inspections, and more. Their commitment to innovation underscores their mission to provide solutions that not only save resources but also contribute significantly to the safety and efficiency of operations across diverse industries.
Media and Company Contacts
For those interested in learning more about the offering or the company, Draganfly provides various channels for communication. The media contact can be reached via email at media@draganfly.com. For further inquiries, the company contact is available at info@draganfly.com.
Frequently Asked Questions
What is the purpose of Draganfly's public offering?
The public offering aims to raise funds for general corporate purposes, including product development and marketing initiatives.
How much money is Draganfly raising through this offering?
Draganfly is expected to raise approximately $3.6 million from the public offering.
When is the closing date for the offering?
The offering is anticipated to close on or about May 5, 2025, subject to regulatory approvals.
Who are the underwriters for this offering?
Maxim Group LLC is acting as the sole book-running manager for the public offering.
How does this offering impact Draganfly’s future?
This offering will provide essential funds to fuel growth initiatives, enhance product offerings, and improve operational efficiencies.
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