UAVS - AgEagle Aerial Systems stock drops 15% on $4.2M registered direct offering
2023-06-06 09:54:47 ET
- AgEagle Aerial Systems ( NYSE: UAVS ) stock dropped 14.9% on Tuesday after the company priced a $4.2M registered direct offering and concurrent private placement.
- The offering includes 16.7M shares and ~25.1M stock warrants to buy ~25.1M shares at a combined price of $0.25/share.
- The warrants will have an exercise price of $0.38/share, will be initially exercisable starting six months after the date of issue and will expire five years from the initial exercise date.
- Net proceeds will be used for working capital and general corporate purposes.
- The offering is expected to close on or about June 8.
- Earlier, AgEagle ( UAVS ) reported Q1 results.
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AgEagle Aerial Systems stock drops 15% on $4.2M registered direct offering