Draganfly (DPRO) said Monday it priced an offering of 1.6 million units for gross proceeds of about $3.8 million.
The company agreed to sell 1.6 million units to an unnamed institutional investor for $2.35 apiece. Each unit comprises one common share and one warrant to purchase one share, with each warrant exercisable at CA$3.31 ($2.36) per share.
Draganfly said it expects the offering to close Tuesday and plans to use the net proceeds for general corporate purposes.
The company's shares were up 11.5% in recent trading.
Price: 2.61, Change: +0.27, Percent Change: +11.50
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