ParaZero Technologies Ltd., an aerospace company focused on safety systems for commercial unmanned aircrafts and defense Counter UAS systems, today announced the closing of the previously announced registered direct offering with institutional investors for the purchase and sale of approximately $3.1 million of ordinary shares and pre-funded warrants at a price of $1.10 per ordinary share.
The offering consisted of the sale of 2,518,182 ordinary shares and 300,000 pre-funded warrants at a public offering price of $1.10 per ordinary share. The pre-funded warrants are immediately exercisable and may be exercised at any time until exercised in full.
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Aggregate gross proceeds to the Company were approximately $3.1 million. The transaction closed on February 13, 2025. The Company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
SOURCE: GlobeNewswire