SASKATOON – Draganfly Inc. (NASDAQ: NASDAQ:DPRO), a developer of drone solutions and systems, today initiated an underwritten public offering in the United States. The offering includes units of common shares and warrants to purchase additional common shares, with Maxim Group LLC serving as the sole book-running manager.
The company plans to use the net proceeds from the offering for general corporate purposes. These include funding growth initiatives, working capital requirements, continuing development and marketing of core products, potential acquisitions, and research and development. The offering is subject to market conditions and the receipt of necessary regulatory approvals, including from the Canadian Securities Exchange and notification to The Nasdaq Stock Market.
The size and terms of the public offering have not been finalized, and completion depends on market conditions. There is no certainty as to whether or when the offering may be completed. The securities will be offered pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission and a Canadian short form base shelf prospectus.
Draganfly has clarified that the securities will only be sold in the United States, excluding Canadian purchasers. Interested parties can obtain copies of the preliminary prospectus supplement and accompanying prospectus from Maxim Group LLC upon availability.
The final terms of the offering will be disclosed in a final prospectus supplement filed with the securities regulatory authorities in Canada and the SEC.
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