Safe Pro Group (SPAI) Prices 1.02M Share IPO at $5/sh

Safe Pro Group Inc. (NASDAQ: SPAI) ("Safe Pro" or the "Company"), a premier provider of artificial intelligence (AI) solutions specializing in drone imagery processing for humanitarian mine-clearing efforts, today announced the pricing of its initial public offering of 1,020,000 shares of common stock at a price to the public of $5.00 per share, raising gross proceeds of $5.1 million, before deducting underwriting discounts and offering expenses. The shares are expected to be listed for trading on the Nasdaq Capital Market under the ticker symbol "SPAI" beginning on August 28, 2024. The Company has granted the underwriters a 45-day option to purchase up to 153,000 additional shares of common stock at the initial public offering price to cover over-allotments, if any, less the underwriting discount. The offering is expected to close on August 29, 2024, subject to customary closing conditions.

Dawson James Securities, Inc. is acting as lead book-running manager for the offering. Spartan Capital Securities LLC is acting as co-manager for the offering.

A registration statement on Form S-1 (File No. 333-280599) relating to the securities became effective on August 12, 2024. The public offering is being made only by means of a prospectus forming part of the effective registration statement. When available, copies of the final prospectus relating to the offering may be obtained from Dawson James Securities, Inc. at 101 North Federal Highway, Suite 600, Boca Raton, FL 33432, by telephone at (561) 391-5555, or by email at [email protected]. In addition, a copy of the final prospectus relating to this offering may also be obtained, when available, from the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or the 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.

You May Also Be Interested In

• Cerebras CEO says investors misunderstood margin guidance
• Neucleus Group files for IPO on Nasdaq at $4-$5 per share
• TD Cowen is selecting this stock as its "2026 Best Smidcap Idea" after pullback