Safe Pro Group Inc.

Safe Pro Group Inc. (SPAI) priced its initial public offering on Aug 29, 2024 at $5.00 per share, within its $4.25–$5.75 range, raising $5.1M, and listed on Nasdaq. At the IPO price its market capitalization was about $68.4M. Dawson James was lead-left underwriter, joined by Spartan Capital. ArentFox Schiff advised the company and Ellenoff Grossman & Schole advised the underwriters.

Safe Pro Group Inc. combines three business units focused on protecting security and military personnel: a cloud-based drone imagery analysis system using AI and machine learning, mission-critical drone services, and manufacturing of ballistic protective products.

Status

IPO

Ticker

SPAI

Exchange

Nasdaq

Priced

Aug 29, 2024

IPO price

$5.00

Price range

$4.25–$5.75

Raised

$5.1M

Market cap at IPO price

$68.4M

First filed

Jun 28, 2024

Underwriters

Dawson James and Spartan Capital

Company counsel

ArentFox Schiff

Underwriters' counsel

Ellenoff Grossman & Schole

Sector

Technology

Country / state

FL

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.