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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Spartan Capital Securities Serves as Sole Placement Agent in AgEagle Aerial Systems Inc.'s $6.5 Million Public Offering

New York, NY, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Spartan Capital Securities LLC, a premier investment banking firm, is pleased to announce its role as the sole placement agent in AgEagle Aerial Systems Inc.'s (NYSE American: UAVS) successful $6.5 million public offering. The offering, which consisted of units including common shares and warrants, is expected to generate gross proceeds of approximately $6.5 million for AgEagle, before deducting placement agent fees and other expenses.

AgEagle Aerial Systems Inc., a leading provider of full-stack flight hardware, sensors, and software solutions for commercial and government applications, plans to utilize the proceeds from this offering for the repayment of an outstanding note and general corporate and working capital purposes.

The offering included 26,900,000 units, each consisting of one share of common stock or one pre-funded warrant, as well as Series A and Series B warrants to purchase additional shares. The Series A warrants have an initial exercise price of $0.24 per share, while the Series B warrants have an initial exercise price of $0.50 per share. Both sets of warrants are exercisable immediately and expire five years from the closing date of the offering. The transaction is expected to close on or about October 1, 2024, subject to customary closing conditions.

John Lowry, CEO of Spartan Capital Securities, commented, “We are honored to have acted as the sole placement agent for AgEagle Aerial Systems in this successful public offering. AgEagle is at the forefront of innovation in drone technology, and we believe the capital raised will position them for continued success in the commercial and government sectors. We look forward to supporting their ongoing growth."

Duane Morris LLP served as legal counsel to AgEagle Aerial Systems, while Manatt, Phelps & Phillips LLP represented Spartan Capital Securities in the transaction.

About Spartan Capital Securities LLC:

Spartan Capital Securities LLC is a full-service financial firm offering comprehensive investment advisory services to institutional clients and high-net-worth individuals. Known for its market expertise and commitment to client success, Spartan Capital provides tailored solutions in a range of financial services, including capital raising, strategic advisory, and asset management.

For more information about Spartan Capital Securities, visit www.spartancapital.com.

Contact:

Spartan Capital Securities LLC
45 Broadway, 19th Floor
New York, NY 10006
investmentbanking@spartancapital.com


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