- DroneShield has received firm commitments from sophisticated, professional and institutional investors for a $7.5 million placement
- Then the company will issue 60 million fully paid ordinary shares at an issue price of 12.5 cents each
- The issue price represents an 18.69 per cent discount to the 15-day volume-weighted average price (VWAP) of DroneShield’s shares
- The funds will go towards scaling up its business to support the U.S., Europe and other regions as they emerge from the COVID-19 slowdown
- Company shares have dropped 8.33 per cent and are trading for 13.8 cents
- DroneShield will also use the money to repay a $600,000 research and development tax incentive loan
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