JOLTS Job Openings (Jun) 7.44M vs 7.5M Expected
SASKATOON - Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) announced Wednesday the pricing of its public offering of 5,500,000 units at US$2.50 per unit, expecting to raise approximately US$13.75 million in gross proceeds before deducting placement agent fees and offering expenses. The offering comes as InvestingPro data shows the company is quickly burning through cash, despite maintaining more cash than debt on its balance sheet.
Each unit consists of one common share and one warrant to purchase an additional common share. The warrants have an exercise price of CA$5.0768 (US$3.71), are immediately exercisable, and will expire five years after issuance.
Maxim Group LLC is serving as the sole placement agent for the offering, which is expected to close on or about June 12, 2025, subject to customary closing conditions including approval from the Canadian Securities Exchange and notification to Nasdaq.
The drone solutions company intends to use the net proceeds for general corporate purposes, including funding capabilities to meet demand for new products, working capital requirements, continuing development and marketing of core products, potential acquisitions, and research and development. According to InvestingPro analysis, analysts anticipate strong sales growth of 63% for the current year, though the company remains unprofitable over the last twelve months.
The offering is being conducted under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission and the company’s Canadian short form base shelf prospectus dated June 30, 2023. Securities will be offered and sold only in the United States, with no sales to Canadian purchasers.
Draganfly, which has been developing drone technology for over 25 years, focuses on solutions for public safety, agriculture, industrial inspections, security, mapping, and surveying sectors. Recent InvestingPro data shows the stock has delivered a remarkable 77.5% return over the past week, though investors should note its high price volatility. For deeper insights into Draganfly’s financial health and growth prospects, subscribers can access the comprehensive Pro Research Report, along with 15+ additional ProTips available on InvestingPro.
The information in this article is based on a company press release statement.
In other recent news, Draganfly Inc. reported a 16.4% increase in revenue for Q1 2025, reaching $1.55 million. Despite this growth, the company faced a comprehensive loss of $3.4 million, highlighting ongoing financial challenges. Draganfly has also commenced the delivery of its Flex FPV drone systems to a major U.S. military prime contractor to support allied forces’ land operations. Additionally, Draganfly has been selected by the Cochise County Sheriff’s Department to enhance border surveillance efforts using its drones, in line with an executive order to bolster unmanned aerial systems for security purposes. The company continues to see increased demand for its unmanned aerial systems within the defense and public safety sectors. Furthermore, Draganfly has set ambitious targets for profitability, aiming for $35–40 million in revenue. The company remains optimistic about future growth driven by new product launches and strategic partnerships, as noted by CEO Cameron Chell.
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