10:59 AM EST, 11/18/2024 (MT Newswires) -- Draganfly ( DPRO ) said Monday it priced an offering of 1.6 million units for gross proceeds of about $3.8 million.

The company agreed to sell 1.6 million units to an unnamed institutional investor for $2.35 apiece. Each unit comprises one common share and one warrant to purchase one share, with each warrant exercisable at CA$3.31 ($2.36) per share.

Draganfly ( DPRO ) said it expects the offering to close Tuesday and plans to use the net proceeds for general corporate purposes.

The company's shares were up 11.5% in recent trading.

Price: 2.61, Change: +0.27, Percent Change: +11.50