AgEagle Aerial Systems Inc. Announces Closing of $6.5 Million Public Offering

Core Viewpoint - AgEagle Aerial Systems Inc. has successfully closed a public offering, raising approximately $6.5 million in gross proceeds, which will be utilized for debt repayment and general corporate purposes [1][3]. Offering Details - The public offering consisted of 26,899,996 Units, each comprising one share of common stock or one Pre-Funded Warrant, along with Series A and Series B Warrants [2]. - The public offering price per Unit was set at $0.24, with a slightly lower price of $0.239 for Units including a Pre-Funded Warrant [2]. - The Pre-Funded Warrants are immediately exercisable, while Series A and Series B Warrants have initial exercise prices of $0.24 and $0.50 per share, respectively, and both series expire five years from the closing date [2]. Use of Proceeds - The proceeds from the offering are intended for the repayment of an outstanding note, with the remainder allocated for general corporate and working capital needs [3]. Regulatory Information - The securities were offered under a registration statement on Form S-1, which became effective on September 30, 2024 [4]. Company Overview - AgEagle Aerial Systems Inc. specializes in providing full stack flight hardware, sensors, and software solutions for various sectors, including energy, construction, agriculture, and government [6]. - Founded in 2010, the company initially focused on professional-grade drones and aerial data collection for the agriculture industry [6].