05:31 AM EDT, 10/02/2024 (MT Newswires) -- AgEagle Aerial Systems ( UAVS ) said late Tuesday it has closed a public offering of units, raising total gross proceeds of $6.5 million.

The company sold a total of 26.9 million units at a price of $0.24 per unit, with each unit consisting of one share of common stock or pre-funded warrant, one series A warrant, and one series B warrant.

The series A warrants are exercisable at a price of $0.24 per share, and the series B warrants are exercisable at $0.50 per share.

Net proceeds will be used for debt repayments and for general corporate purposes, the company said.

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