ParaZero Technologies (PRZO) Announces $3.1 Million Registered Direct Offering

ParaZero Technologies Ltd. (NASDAQ: PRZO) (the “Company”), an aerospace company focused on safety systems for commercial unmanned aircrafts and defense Counter UAS systems, today announced that it has entered into definitive agreements in a registered direct offering with institutional investors for the purchase and sale of approximately $3.1 million of ordinary shares and pre-funded warrants at a price of $1.10 per ordinary share.

The offering consisted of the sale of 2,818,182 ordinary shares (or pre-funded warrants) at a public offering price of $1.10 per ordinary share (or $1.09999 for each pre-funded warrant, which is equal to the public offering price per ordinary share to be sold in the offering minus an exercise price of $0.00001 per pre-funded warrant). The pre-funded warrants will be immediately exercisable and may be exercised at any time until exercised in full. For each pre-funded warrant sold in the offering, the number of ordinary shares in the offering will be decreased on a one-for-one basis.

Aggregate gross proceeds to the Company are expected to be approximately $3.1 million. The transaction is expected to close on or about February 13, 2025, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.

Aegis Capital Corp. is acting as exclusive placement agent for the offering. Greenberg Traurig, P.A. and Gornitzky & Co. are acting as co-counsels to the Company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.

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