24/7 Market News- AgEagle Aerial Systems Prices $6.5 M Public Offering

October 1, 2024

DENVER, Colo., Oct 01, 2024 (247marketnews.com)- AgEagle Aerial Systems (NYSE: UAVS) reported pricing an approximately $6.5 Million, before fees and other offering expenses, public offering “of 26,900,000 Units, each consisting of one (1) share of our common stock, $0.001 par value per share (the “Common Stock”) or one Pre-Funded Warrant to purchase one share of Common stock, one Series A warrant (“Series A Warrant”) to purchase one share of Common Stock and one Series B warrant (“Series B Warrant”) to purchase one share of Common Stock. The public offering price per Unit is $0.24 (or $0.239 for each Unit with a Pre-Funded Warrant, which is equal to the public offering price per Unit with a share of Common Stock to be sold in the offering minus an exercise price of $0.001 per Pre-Funded Warrant). The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until exercised in full. The initial exercise price of each Series A Warrant is $0.24 per share of Common Stock or pursuant to an alternative cashless exercise option. The Series A Warrants are exercisable immediately and expire five years from the closing date of this public offering. The initial exercise price of each Series B Warrant is $0.50 per share of common stock. The Series B Warrants are exercisable immediately and expire five years from the closing date of this public offering.”

AgEagle Aerial Systems plans to use the offering proceeds to repay an outstanding note, as well as general corporate and working capital purposes.

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