DroneShield Limited (AU:DRO) has released an update.
DroneShield Limited announced a significant capital raising effort, seeking $70 million through a fully underwritten placement and offering a Share Purchase Plan (SPP) to potentially raise an additional $5 million. This fund will enable the company to bolster inventory and scale their AI and machine learning capabilities for drone threat responses, following a strong sales pipeline and a profitable year with $55.1 million in revenue. The company’s growth is underpinned by a substantial sales pipeline, a NATO Framework Agreement, and a current profitable status.
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