Reported February 21, 2024, Draganfly Announced Pricing Of Previously Announced $3.6M Underwritten Public Offering Of 13.4M Units At A Price Of $0.27/Unit
Portfolio Pulse from Benzinga Newsdesk
Draganfly Inc. announced the pricing of its $3.6M underwritten public offering of 13.4M units at $0.27/unit. Each unit includes a common share or a pre-funded warrant and a warrant to purchase one common share, with warrants exercisable at $0.36/share immediately and expiring in five years. Maxim Group LLC is the sole book-running manager.
February 22, 2024 | 3:13 pm
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NEUTRAL IMPACT
Draganfly's public offering of 13.4M units at $0.27 may dilute current shareholders but provides capital for growth. Warrants exercisable at $0.36 could indicate future price expectations.
The offering could dilute the value of existing shares in the short term, potentially putting downward pressure on the stock price. However, the capital raised is crucial for Draganfly's growth and development, which could positively impact the stock in the longer term. The pricing of the warrants at $0.36 suggests the company and underwriters see potential for stock price appreciation.
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IMPORTANCE 75
RELEVANCE 100