08:50 AM EDT, 08/30/2024 (MT Newswires) -- Safe Pro Group ( SPAI ) , an artificial intelligence solutions provider, said Friday has it completed its initial public offering of about 1 million shares at a price of $5 per share.

The IPO generated gross proceeds of $5.1 million, the company said, before deducting underwriting discounts and offering expenses.

Underwriters have been granted a 45-day option to purchase an additional 153,000 shares to cover over-allotmnts, if any, less the underwriting discount, the company said.

The shares commenced trading under the ticker symbols 'SPAI' Wednesday. Safe Pro ( SPAI ) shares were down 3% in recent Friday premarket activity.

Price: 4.0000, Change: -0.14, Percent Change: -3.38