ParaZero Technologies (NASDAQ: PRZO), an aerospace company focused on safety systems for commercial unmanned aircrafts and defense Counter UAS systems, has announced the closing of its 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 company secured approximately $3.1 million in aggregate gross proceeds from the offering, of which it intends to use the net, together with its existing cash, for general corporate purposes and working capital. Aegis Capital Corp. acted as exclusive placement agent for the offering. Greenberg Traurig, P.A. and Gornitzky & Co. acted as co-counsels to the company, and Kaufman & Canoles, P.C. acted as counsel to Aegis Capital Corp.
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About ParaZero Technologies Ltd.
ParaZero is a leading developer of autonomous parachute safety systems technologies for commercial and military platforms as well as for urban air mobility (“UAM”) aircraft. Started in 2014 by a passionate group of aviation professionals and drone industry veterans, ParaZero develops, manufactures, markets and sells smart, autonomous parachute safety systems designed to enable safe flight operations over populated areas and beyond-visual-line-of-sight (“BVLOS”) as well as for various military applications including Counter UAS.
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