Safe Pro Group sets IPO price at $5 per share

AVENTURA, FL - Safe Pro Group Inc. (NASDAQ:SPAI), a company specializing in artificial intelligence solutions for drone imagery processing in humanitarian mine-clearing, has announced the pricing of its initial public offering (IPO) at $5.00 per share. The offering comprises 1,020,000 shares of common stock, aiming to raise $5.1 million before underwriting discounts and offering expenses. Trading on the Nasdaq Capital Market under the ticker SPAI is set to commence today.

In connection with the IPO, Safe Pro has granted underwriters a 45-day option to purchase up to an additional 153,000 shares to cover potential over-allotments. The offering is expected to close tomorrow, subject to standard closing conditions.

Dawson James Securities, Inc. serves as the lead book-running manager, with Spartan Capital Securities LLC as the co-manager for the offering. The securities were made available through a prospectus as part of a registration statement on Form S-1 (File No. 333-280599), which became effective on August 12, 2024.

Safe Pro Group leverages off-the-shelf drones combined with its proprietary machine learning and computer vision technology to identify explosive threats more efficiently and safely than traditional methods. The cloud-based platform, powered by Amazon (NASDAQ:AMZN) Web Services, targets markets including government, humanitarian aid, law enforcement, military, and commercial sectors. The company's solutions are particularly relevant in regions like Ukraine, where extensive areas are affected by landmines and unexploded ordnance.

The press release includes forward-looking statements regarding the completion, timing, and size of the proposed IPO and the anticipated start of trading on the Nasdaq Capital Market. These statements are subject to market conditions and other factors that could cause actual results to differ materially.

This news article is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The offering of these securities will not occur in any jurisdiction where such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that jurisdiction.

InvestingPro Insights

As Safe Pro Group Inc. (SPAI) embarks on its initial public offering, investors are closely monitoring its financial metrics and market performance. According to InvestingPro data, the company's Price/Earnings (P/E) Ratio stands at -9.93, which indicates that investors are willing to pay a premium for the company's earnings despite it currently not being profitable. This could be due to the innovative nature of Safe Pro's AI-driven solutions for drone imagery processing in critical humanitarian efforts.

The company's Price/Book (P/B) multiple is currently at 85.91, which is considered high, suggesting that the market values the company's assets significantly more than their current book value. This could reflect the market's optimism about the company's proprietary technology and its potential to revolutionize the field of mine-clearing.

One InvestingPro Tip points out that the stock is trading at a high earnings multiple, which aligns with the high P/E ratio and may indicate high growth expectations from investors. Additionally, Safe Pro's revenue for the last twelve months as of Q1 2024 is reported at $0.85 million, which provides a glimpse into the company's financial scale at this stage of its development.

For those interested in a deeper dive into Safe Pro Group's financial health and market performance, InvestingPro offers additional insights and tips. Currently, there are 14 additional InvestingPro Tips available for SPAI at https://www.investing.com/pro/SPAI, which can provide investors with a more comprehensive understanding of the stock's investment profile.

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