09:32 AM EDT, 08/28/2024 (MT Newswires) -- Safe Pro Group (SPAI) said Wednesday that it has priced an initial public offering of 1.02 million shares at $5 per share for gross proceeds of $5.1 million, including underwriting discounts and other expenses.

The drone-based technology company said underwriters have been granted a 45-day option to buy up to about 153,000 additional shares, less the underwriting discount, to cover any over-allotments.

The shares are expected to begin trading on the Nasdaq Capital Market at Wednesday's open, under the ticker symbol "SPAI."

The offering is slated to be completed on Thursday, Safe Pro said.