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An update from Drone Delivery Canada ( (TSE:FLT) ) is now available.
Volatus Aerospace Inc. has successfully closed a bought deal private placement offering, raising $4.83 million through the sale of 9,288,462 units. The funds will be used to expand into the defense business segment, increase drone system inventory to meet growing demand in the U.S., Canada, and internationally, and for general corporate purposes. This move, supported by strong institutional investor confidence, is expected to bolster Volatus’ market position and operational capabilities.
Spark’s Take on TSE:FLT Stock
According to Spark, TipRanks’ AI Analyst, TSE:FLT is a Neutral.
The overall stock score is primarily impacted by the company’s financial challenges, including high debt and ongoing losses. However, technical indicators show some short-term bullish momentum, and recent corporate events suggest potential for future growth, particularly in the defense sector.
To see Spark’s full report on TSE:FLT stock, click here.
More about Drone Delivery Canada
Volatus Aerospace Inc. is a leader in innovative global aerial solutions for intelligence and cargo, leveraging over 100 years of combined institutional knowledge in aviation. The company provides comprehensive solutions using both piloted and remotely piloted aircraft systems across various industries such as oil and gas, energy utilities, healthcare, public safety, and infrastructure, focusing on enhancing operational efficiency, safety, and sustainability through cutting-edge aerial technologies.
Average Trading Volume: 3,782,820
Technical Sentiment Signal: Buy
Current Market Cap: C$266M
Find detailed analytics on FLT stock on TipRanks’ Stock Analysis page.