AgEagle Aerial Systems: Drops on stock offering

Ageagle Aerial Systems

25/07/2018 19:35

** Shares of AgEagle Aerial Systems  UAVS.A  drop ~13 pct to
$1.85 on stock offering
    ** Selling stock holder offering of 4.2 mln shares at $1.86
a piece, a ~12 pct discount to stock's Tuesday close
    ** Shares to be issued upon the conversion of outstanding
shares of Series C convertible preferred stock held by selling
stockholder
    ** UAVS shares currently hovering near offer price
    ** Company has 10.25 mln outstanding shares - TR data
    ** AgEagle is an aerial drone imagery collection and
analytics company
    ** Stock has lost two thirds in value this year

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))