ParaZero to sell 2.8M shares at $1.10 in registered direct offering

ParaZero (PRZO) has entered into definitive agreements in a registered direct offering with institutional investors for the purchase and sale of approximately $3.1M of ordinary shares and pre-funded warrants at a price of $1.10 per ordinary share. The offering consisted of the sale of 2,818,182 ordinary shares at a public offering price of $1.10 per ordinary share. The pre-funded warrants will be immediately exercisable and may be exercised at any time until exercised in full. For each pre-funded warrant sold in the offering, the number of ordinary shares in the offering will be decreased on a one-for-one basis.Aggregate gross proceeds to the Company are expected to be approximately $3.1M. The transaction is expected to close on or about February 13, 2025, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital. Aegis Capital Corp. is acting as exclusive placement agent for the offering.