Draganfly closes $25 million registered direct offering

Draganfly Inc. (NASDAQ: DPRO) completed a registered direct offering of 4,672,895 units at $5.35 per unit, generating gross proceeds of approximately $25 million before deducting placement agent fees and expenses.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase one common share at an exercise price of CA$7.3579 per share and expire five years from issuance. Maxim Group LLC served as the sole placement agent for the offering.

The drone technology company plans to use net proceeds for general corporate purposes, including funding capabilities to meet demand for new products, growth initiatives, working capital requirements, product development and marketing, potential acquisitions, and research and development.

The offering was conducted under an effective shelf registration statement on Form F-10 previously filed with the U.S. Securities and Exchange Commission and declared effective on July 5, 2023. Securities were offered and sold only in the United States, with no sales to Canadian purchasers.

Draganfly operates as a developer of drone solutions, software, and robotics, providing technology for public safety, agriculture, industrial inspections, security, mapping, and surveying applications. The company trades on NASDAQ, the Canadian Securities Exchange, and the Frankfurt Stock Exchange.

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