ParaZero Technologies Ltd. Announces Closing of $3.1 Million Registered Direct Offering

Core Viewpoint - ParaZero Technologies Ltd. has successfully closed a registered direct offering, 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]. Group 1: Offering Details - The offering included the sale of 2,518,182 ordinary shares and 300,000 pre-funded warrants, with the public offering price set at $1.10 per ordinary share [2]. - The pre-funded warrants are immediately exercisable and can be exercised at any time until fully exercised [2]. Group 2: Financial Proceeds and Use - The aggregate gross proceeds from the offering amounted to approximately $3.1 million, with the transaction closing on February 13, 2025 [3]. - The company plans to utilize the net proceeds from the offering, along with existing cash, for general corporate purposes and working capital [3]. Group 3: Legal and Advisory Information - Aegis Capital Corp. served as the exclusive placement agent for the offering, while Greenberg Traurig, P.A. and Gornitzky & Co. acted as co-counsels to the company [4]. - The offering was conducted under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission [4]. Group 4: Company Overview - ParaZero Technologies Ltd. specializes in developing autonomous parachute safety systems for both commercial and military applications, including urban air mobility aircraft [6]. - The company was founded in 2014 by a group of aviation professionals and drone industry veterans, focusing on enabling safe flight operations over populated areas and beyond-visual-line-of-sight [6].