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Safe Pro Group Inc. Completes Initial Public Offering

AVENTURA, FL / ACCESSWIRE / August 30, 2024 / Safe Pro Group Inc. (Nasdaq:SPAI) ("Safe Pro" or the "Company"), a premier provider of artificial intelligence (AI) solutions specializing in drone imagery processing for humanitarian mine-clearing efforts, today announced the closing of its initial public offering of 1,020,000 shares of common stock at a price to the public of $5.00 per share, raising gross proceeds of $5.1 million, before deducting underwriting discounts and offering expenses. The shares commenced trading on the Nasdaq Capital Market under the ticker symbol "SPAI" on August 28, 2024.

The Company has granted the underwriters a 45-day option to purchase up to 153,000 additional shares of common stock at the initial public offering price to cover over-allotments, if any, less the underwriting discount.

Dawson James Securities, Inc. acted as lead book-running manager for the offering. Spartan Capital Securities LLC acted as co-manager for the offering.

A registration statement on Form S-1 (File No. 333-280599) relating to the securities was declared effective on August 12, 2024. The public offering was made by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from Dawson James Securities, Inc. at 101 North Federal Highway, Suite 600, Boca Raton, FL 33432, by telephone at (561) 391-5555, or by email at investmentbanking@dawsonjames.com. In addition, a copy of the final prospectus relating to this offering may also be obtained from the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Safe Pro Group Inc.

Safe Pro Group is a premier provider of artificial intelligence (AI) solutions specializing in drone imagery processing for humanitarian mine-clearing efforts. The Company leverages commercially available "off the shelf" drones with its proprietary machine learning and computer vision technology to rapidly identify explosive threats which provides a much safer and more efficient alternative to traditional human-based methods to analyze minefields. Built on a cloud-based ecosystem powered by Amazon Web Services (AWS), Safe Pro Group's scalable platform is targeting multiple markets that include government, humanitarian aid, law enforcement, military and commercial sectors where its AI, protective gear, and drone-based services can work in synergy to deliver safety and operational efficiency. Safe Pro Group's AI-driven solutions and automated processing of drone imagery detect and map explosive threats which address significant demining challenges in regions like Ukraine, where over 165,000 km² may be contaminated with landmines and unexploded ordnance. By offering comprehensive cloud-based datasets and advanced protective gear, the Company has the ability to significantly improve the safety, efficiency, and speed of demining operations, delivering actionable intelligence and comprehensive solutions for the remediation of hazardous remnants of war. For more information on Safe Pro Group Inc., please visit https://safeprogroup.com/.

Forward-Looking Statements

Some of the statements in this press release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements relate to future events, future expectations, plans and prospects. Although Safe Pro Group believes the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Safe Pro Group has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including market and other conditions. Applicable risks also include those identified under the heading "Risk Factors" in Safe Pro's registration statement on Form S-1. Any forward-looking statements contained in this press release speak only as of its date. Safe Pro Group undertakes no obligation to update any forward-looking statements contained in this press release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events, except as required by law.

Contact Information

Media Relations
Media Relations
media@safeprogroup.com

Investor Relations
Investor Relations
investors@safeprogroup.com

SOURCE: Safe Pro Group Inc.



View the original press release on accesswire.com

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