02:02 PM EDT, 09/30/2024 (MT Newswires) -- AgEagle Aerial Systems ( UAVS ) priced a $6.5 million public offering of 26.9 million units at $0.24 apiece.

Each unit includes one common share or prefunded warrant to purchase a share, one series A warrant to buy a share and one series B warrant to purchase a share. the company said Monday in a statement.

The exercise price for the series A warrant is $0.24 a share with the series B warrant at $0.50 per share, and the warrants expire in five years.

The company expects to the offering close around Tuesday, and proceeds will be for the repayment of an outstanding note and for general corporate and working capital.

Shares of the company slumped 68% in recent trading.

Price: 0.09, Change: -0.18, Percent Change: -67.96