ParaZero Technologies Ltd. (PRZO) announced today the pricing of its initial public offering of 1,950,000 ordinary shares at a price to the public of $4.00 per share. The ordinary shares are expected to begin trading on The Nasdaq Capital Market under the ticker symbol PRZO on July 27, 2023. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $7.8 million, excluding any exercise of the underwriter’s over-allotment option. The offering is expected to close on July 31, 2023, subject to customary closing conditions.
In addition, ParaZero has granted Aegis Capital Corp. (“Aegis”) a 45-day option to purchase up to 292,500 additional ordinary shares at the initial price to the public, less underwriting discounts and commissions. If Aegis exercises the option in full, the aggregate proceeds of the base offering and over-allotment are expected to be approximately $9.0 million, before deducting underwriting discounts and commissions and offering expenses.
The net proceeds from the initial public offering are expected to be used for research and development of new technologies as well as existing products, marketing and sales efforts in new territories, to discharge certain indebtedness, for working capital and general corporate purposes and possible future acquisitions.
Aegis Capital Corp. is acting as the sole book-running manager for the Offering.
The offering is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from Aegis Capital Corporation, 1345 Avenue of the Americas, 27th Floor, New York, NY 10105, by e-mail at syndicate@aegiscap.com or by telephone at (212) 813-1010.
A registration statement on Form F-1 (No. 333-265178) relating to these securities has been filed with, and declared effective on July 26, 2023 by, the U.S. Securities and Exchange Commission (the “SEC”). Copies of the registration statement, as amended, can be accessed through the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.