ParaZero Raises $4M by Selling 5.33M Shares and Warrants at $0.75
ParaZero Technologies sold 5,333,333 ordinary shares and pre-funded warrants at $0.75 each in a registered direct offering to raise $4 million. After assuming exercise of the warrants, the company’s issued shares total 28,760,239, and net proceeds will fund general corporate purposes and working capital.
1. Registered Direct Offering Details
On March 24, ParaZero closed its registered direct offering with a single institutional investor, selling 5,333,333 ordinary shares and pre-funded warrants at $0.75 per security for aggregate gross proceeds of approximately $4 million. The pre-funded warrants are exercisable at $0.00001 and convert on a one-for-one basis upon exercise.
2. Capital Structure and Use of Proceeds
Assuming exercise of all pre-funded warrants issued in the offering, ParaZero's issued and outstanding ordinary shares will increase to 28,760,239. The company intends to allocate net proceeds toward general corporate purposes and working capital to support ongoing operations and strategic initiatives.