AgEagle Aerial Systems announces $6.5 million offering in Wichita

On September 30, 2024, AgEagle Aerial Systems Inc., based in Wichita, Kansas, announced a public offering expected to generate approximately $6.5 million in gross proceeds. The offering includes 26,900,000 Units, each comprising one share of common stock or a Pre-Funded Warrant, along with Series A and Series B Warrants. The public offering price is set at $0.24 per Unit, with the Pre-Funded Warrants priced slightly lower. The Series A Warrants will expire five years after the offering's closing date, while the Series B Warrants have an initial exercise price of $0.50 per share and also expire in five years. Spartan Capital Securities, LLC is serving as the sole placement agent for this offering, with legal counsel provided by Manatt, Phelps & Phillips LLP. The offering is being conducted under an effective registration statement, and interested parties can access the preliminary and final prospectus through the SEC's website. This public offering is part of AgEagle's strategy to enhance its financial position and support its ongoing development of drone technology and solutions. AgEagle is recognized for its comprehensive drone solutions, catering to various sectors including energy, construction, agriculture, and government. The company aims to address significant challenges faced by its customers through innovative flight hardware, sensors, and software. The funds raised from this offering are expected to bolster AgEagle's capabilities and expand its market reach. Overall, this public offering reflects AgEagle's commitment to growth and innovation in the drone industry, positioning the company for future opportunities and advancements in technology.