Drone maker Draganfly descends on $25 mln direct stock deal

Draganfly

18/07/2025 14:29

** U.S.-listed shares of Draganfly Inc DPRO.O down 27.1% premarket to $5.26 as Canadian drone maker raises $25 mln of equity

    ** Co says entered agreement with several institutional investors to purchase ~4.7 mln units in registered direct offering at $5.35

    ** Offering price represents 26% discount to stock's last close

    ** Each unit comprises one share and one 5-yr warrant to purchase an additional share

    **
    Co expects to use net offering proceeds for general purposes, including to fund new products and growth, and for working capital, potential acquisitions and R&D

    ** Maxim Group sole placement agent for the offering

** DPRO shares on Thurs soared ~39% following ~43% gain on Weds, and have more than tripled over the past month

** Drone-related stocks have gotten a boost recently after U.S. Defense Secretary Pete Hegseth ordered sweeping new orders to fast-track drone production and deployment

    ** Draganfly has ~13.4 mln shares outstanding and roughly the same amount of public float, per LSEG data

    ** Just 2 analysts cover Draganfly, both with "buy" ratings: H.C. Wainwright has $6 PT, while Maxim has $7 PT - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))