SASKATOON - Draganfly Inc. (NASDAQ: NASDAQ:DPRO), a developer of drone solutions and systems, has concluded its underwritten public offering, raising approximately $3.6 million before expenses.
The offering involved 13.4 million units at a price of $0.27 each, with each unit comprising one common share or a warrant to purchase one, and an additional warrant to purchase another common share.
The warrants, exercisable immediately at $0.36 per share, are set to expire five years from the date of issuance. Maxim Group LLC served as the sole book-running manager for the offering.
Draganfly has stated that the net proceeds will be directed towards general corporate purposes. These include funding growth initiatives, working capital requirements, potential acquisitions, and research and development for its new products.
This offering was conducted in accordance with an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission on July 5, 2023, and a Canadian short form base shelf prospectus dated June 30, 2023. The sale of securities was limited to the United States, with no securities offered or sold in Canada.
The final prospectus supplement and accompanying base shelf prospectus detailing the offering have been filed with the relevant securities commissions in the provinces of British Columbia, Saskatchewan, and Ontario, as well as with the SEC.
The information in this article is based on a press release statement from Draganfly. It should not be considered an offer to sell or a solicitation of an offer to buy the mentioned securities.
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