Draganfly Announces Pricing Of $3.5M Underwritten Offering Of 6.4M Shares And Accompanying Warrants Of Common Stock At A Price Of $0.55/Share, Warrants Have An Excercise Price Of ~$0.61/Share
Portfolio Pulse from Benzinga Newsdesk
Draganfly Inc. has announced the pricing of an underwritten offering of 6.4 million common shares and accompanying warrants at a combined public offering price of $0.55 per share, aiming to raise approximately $3.5 million. The warrants have an exercise price of $0.61 per share and will expire five years after issuance. The proceeds will be used for general corporate purposes, including funding growth initiatives, working capital requirements, potential acquisitions, and R&D. The offering is expected to close on October 30, 2023.
October 26, 2023 | 1:56 pm
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NEGATIVE IMPACT
Draganfly's underwritten offering could dilute existing shareholders' equity, potentially leading to a short-term negative impact on the stock price. However, the funds raised will be used for growth initiatives and R&D, which could have a positive long-term impact.
The announcement of an underwritten offering often leads to a short-term drop in the stock price due to the dilution of existing shareholders' equity. However, the funds raised will be used for growth initiatives and R&D, which could potentially lead to long-term growth and a positive impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100