ParaZero announces pricing for $5.1M private placement

ParaZero Technologies has entered into a securities purchase agreement with certain institutional investors for aggregate gross cash proceeds of $5.1 million, before deducting fees to the placement agent and other offering expenses payable by the Company. In connection with the offering, the Company will issue an aggregate of 4,636,364 units and pre-funded units. The pre-funded units will be sold at the same purchase price less the pre-funded warrant exercise price of $0.005. Each unit and pre-funded unit will consist of one ordinary share and one common warrant exercisable for one ordinary share at an exercise price of $1.10 per ordinary share. The common warrants will be exercisable upon issuance and will have a term of 5.5 years from the issuance date. The number of securities issued under the units is subject to adjustment as described in more detail in the report on Form 6-K to be filed in connection with the offering. The closing of the private placement is expected to occur on or about October 30, 2023, subject to the satisfaction of certain customary closing conditions. Aegis Capital Corp. is acting as the Exclusive Placement Agent for the Offering.