Draganfly announces partial over-allotment exercise, raising an additional $209,000 from recent public offering to support growth initiatives.
Quiver AI Summary
Draganfly Inc. announced the partial exercise of an over-allotment option by Maxim Group LLC, resulting in the purchase of an additional 100,000 common shares at $2.09 each, generating $209,000 in gross proceeds following the completion of a $3.6 million public offering on May 5, 2025. The company plans to use the net proceeds primarily for general corporate purposes, including development and marketing of new products and potential acquisitions. The offering was conducted under a shelf registration statement approved by the SEC and applicable in Canada. Investors are encouraged to review the offering documents for more details, as the release includes forward-looking statements subject to risks and uncertainties.
Potential Positives
- Draganfly successfully closed a US$3.6 million underwritten public offering, indicating strong investor confidence in the company's potential for growth.
- The partial exercise of the over-allotment option by Maxim Group LLC adds an additional US$209,000 in gross proceeds, further bolstering the company's financial resources.
- The proceeds from the offering are intended for general corporate purposes, including funding for new product development and growth initiatives, which positions Draganfly for potential expansion in the competitive drone market.
- This underwritten offering follows a recent effective shelf registration, demonstrating regulatory compliance and the company's preparedness for market transactions.
Potential Negatives
- Despite raising $3.6 million in the public offering, the reliance on this capital for general corporate purposes and to fund growth initiatives may indicate ongoing financial instability or insufficient existing resources.
- The limited share offering only to U.S. investors and the exclusion of Canadian purchasers could reflect a constrained market presence or lack of attractiveness in the Canadian investment landscape.
- Forward-looking statements cautioning investors about the inherent risks, uncertainties, and assumptions associated with anticipated events may undermine investor confidence regarding the company's future performance.
FAQ
What was the amount raised in Draganfly's recent public offering?
Draganfly raised US$3.6 million in its recent underwritten public offering.
Who managed the offering for Draganfly Inc.?
Maxim Group LLC acted as the underwriter and sole book-running manager for the offering.
How will Draganfly use the proceeds from the offering?
The proceeds will be used for general corporate purposes, including product development and working capital needs.
Are Canadian investors able to purchase shares in the offering?
No, the offering was made exclusively in the United States, with no securities sold to Canadian purchasers.
Where can I find the final prospectus related to the offering?
The final prospectus can be accessed through the SEDAR+ website or the SEC's website.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
Saskatoon, SK., June 06, 2025 (GLOBE NEWSWIRE) -- Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A) (“Draganfly” or the “Company”), a drone solutions, and systems developer, today announced that further to the closing of the Company’s US$3.6 million underwritten public offering on May 5, 2025 (the “Offering”), Maxim Group LLC, as underwriter and sole book-running manager, has partially exercised their over-allotment option to purchase an additional 100,000 common shares at the price of US$2.09 per share for aggregate gross proceeds of US$209,000 prior to deducting underwriter discounts and commissions.
As previously announced, Draganfly intends to use the net proceeds from the Offering for general corporate purposes, including to fund its capabilities to meet demand for its new products including growth initiatives and/or for working capital requirements including the continuing development and marketing of the Company’s core products, potential acquisitions and research and development.
The Offering was made pursuant to an effective shelf registration statement on Form F-10, as amended, (File No. 333-271498) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on July 5, 2023 and the Company’s Canadian short form base shelf prospectus dated June 30, 2023 (the “Base Shelf Prospectus”). Draganfly offered and sold the securities in the United States only. No securities were offered or sold to Canadian purchasers.
A final prospectus supplement and accompanying Base Shelf Prospectus relating to the Offering and describing the terms thereof has been filed with the applicable securities commissions in the Canadian provinces of British Columbia, Saskatchewan and Ontario, and with the SEC in the United States and is available for free by visiting the Company’s profiles on the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca or the SEC’s website at www.sec.gov , as applicable. Copies of the final prospectus supplements and accompanying Base Shelf Prospectus relating to the Offering may be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or by telephone at (212) 895-3745 or by email at [email protected] .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Draganfly
Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is a pioneer in drone solutions, AI-driven software, and robotics. With over 25 years of innovation, Draganfly has been at the forefront of drone technology, providing solutions for public safety, agriculture, industrial inspections, security, mapping, and surveying. The Company is committed to delivering efficient, reliable, and industry-leading technology that helps organizations save time, money, and lives.
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Forward Looking Statements
Certain statements contained in this news release may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements, based as they are on the current expectations of management, inherently involve numerous important risks, uncertainties and assumptions, known and unknown. In this news release, such forward-looking statements include, but are not limited to, statements regarding the intended use of proceeds of the Offering. Actual future events may differ from the anticipated events expressed in such forward-looking statements. Draganfly believes that expectations represented by forward-looking statements are reasonable, yet there can be no assurance that such expectations will prove to be correct. The reader should not place undue reliance, if any, on any forward-looking statements included in this news release. These forward-looking statements speak only as of the date made, and Draganfly is under no obligation and disavows any intention to update publicly or revise such statements as a result of any new information, future event, circumstances or otherwise, unless required by applicable securities laws. Investors are cautioned not to unduly rely on these forward-looking statements and are encouraged to read the Offering documents, as well as Draganfly’s continuous disclosure documents, including its current annual information form, as well as its audited annual consolidated financial statements which are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar .
