Draganfly descends on stock offering plans

Draganfly

29/03/2023 11:14

** U.S.-listed shares of Draganfly Inc  DRPO.O  down ~18% at
$1.17 premarket as Canada-based drone co looks to raise equity
    ** DPRO late Tues announced proposed stock offering to fund
its business including growth initiatives, working capital,
potential acquisitions, R&D
    ** Aegis Capital sole bookrunner
    ** DPRO's shares on Tues finished session down 18.3% after
co late Mon reported Q4 rev decreased 20% yr/yr due to supply
chain challenges, and gross loss of $1.6 mln vs profit of $626k
a yr ago
    ** Co, which had $7.9 mln of cash as of Dec 31, has ~$50 mln
market cap, per Refinitiv
    ** YTD, shares up 91% through Tues close

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))