ParaZero Technologies Ltd. Announces $3.1 Million Registered Direct Offering

Core Viewpoint - ParaZero Technologies Ltd. has announced a registered direct offering with institutional investors, raising approximately $3.1 million through the sale of ordinary shares and pre-funded warrants at a price of $1.10 per share [1][3]. Summary by Sections Offering Details - The offering includes the sale of 2,818,182 ordinary shares or pre-funded warrants at a public offering price of $1.10 per ordinary share [2]. - Pre-funded warrants are immediately exercisable and can be exercised at any time until fully exercised, with a minimal exercise price of $0.00001 [2]. Financial Proceeds - The aggregate gross proceeds from the offering are expected to be around $3.1 million, with the transaction anticipated to close on or about February 13, 2025, pending customary closing conditions [3]. Use of Proceeds - The net proceeds from the offering, along with existing cash, are intended for general corporate purposes and working capital [3]. Legal and Regulatory Information - Aegis Capital Corp. is acting as the exclusive placement agent for the offering, with Greenberg Traurig, P.A. and Gornitzky & Co. serving as co-counsels [4]. - The offering is made under an effective shelf registration statement previously filed with the SEC, and a final prospectus supplement will be available on the SEC's website [4]. Company Background - ParaZero Technologies Ltd. specializes in autonomous parachute safety systems for commercial and military applications, aiming to enhance safety in flight operations over populated areas and for various military uses [7].