ParaZero announces closing of $3.1M registered direct offering

ParaZero (PRZO) Technologies Ltd. announced the closing of the previously announced 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 2,518,182 ordinary shares and 300,000 pre-funded warrants at a public offering price of $1.10 per ordinary share. The pre-funded warrants are immediately exercisable and may be exercised at any time until exercised in full. Aggregate gross proceeds to the company were approximately $3.1M. The transaction closed on February 13, 2025. 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. acted as exclusive placement agent for the offering. Greenberg Traurig, P.A. and Gornitzky & Co. acted as co-counsels to the Company. Kaufman & Canoles, P.C. acted as counsel to Aegis Capital Corp.