09:04 AM EDT, 08/04/2025 (MT Newswires) -- Parazero Technologies ( PRZO ) said Monday it entered into agreements with institutional investors for the purchase and sale of 2 million shares and pre-funded warrants at $1.10 per share.

The pre-funded warrants are immediately exercisable and may be exercised at any time until fully exercised, Parazero ( PRZO ) said, adding that for each pre-funded warrant sold, the number of ordinary shares will be reduced on a one-for-one basis.

The aerospace defense company said it expects gross proceeds of $2.2 million and plans to use the proceeds for general corporate purposes and working capital.

The offering is slated to close on Tuesday, subject to customary closing conditions.

ParaZero ( PRZO ) shares were down 3.2% in recent premarket activity.