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ParaZero Technologies Ltd. Announces $3.1M Direct Offering Report – Key Insights

$PRZO
Form 6-K
Filed on: 2025-02-13
Source
ParaZero Technologies Ltd. Announces $3.1M Direct Offering Report – Key Insights

Here’s a summary of the key information extracted from the financial report of ParaZero Technologies Ltd. based on the provided text:

Company Overview

  • Name: ParaZero Technologies Ltd.
  • Address: 1 Hatachana Street, Kfar Saba, 4453001, Israel.

Offering Details

  • Date of Agreement: February 12, 2025.
  • Type of Offering: Registered direct offering.
  • Total Shares Offered:
  • Ordinary Shares: 2,518,182 shares at a price of $1.10 per share.
  • Pre-Funded Warrants: 300,000 warrants at a price of $1.09999 each.
  • Total Gross Proceeds: Approximately $3.1 million expected from the offering.
  • Use of Proceeds: General corporate purposes and working capital.

Pre-Funded Warrants

  • Exercise Price: $0.00001 per Ordinary Share, immediately exercisable.
  • Ownership Limitation: Holders cannot exercise warrants if it would exceed 4.99% of the outstanding Ordinary Shares post-exercise.
  • Cashless Exercise: The warrants may be exercised on a cashless basis.

Closing Details

  • Expected Closing Date: On or about February 13, 2025, subject to customary closing conditions.

Agreements

  • Securities Purchase Agreement: Contains customary provisions including representations, warranties, and indemnifications.
  • Placement Agent Agreement:
  • Agent: Aegis Capital Corp.
  • Placement Fee: 7.5% of gross proceeds and $55,000 for legal fees.

Regulatory Filings

  • The securities are being issued pursuant to a prospectus supplement dated February 12, 2025, as part of a shelf registration statement on Form F-3, effective since August 16, 2024.
  • Copies of the relevant agreements and opinions from legal counsel are included as exhibits in the report.

Forward-Looking Statements

  • The report includes forward-looking statements that are subject to risks and uncertainties, including the successful closing of the offering.

Signatures

  • CEO: Boaz Shetzer, signing on behalf of ParaZero Technologies Ltd. on February 13, 2025.

This summary captures the essential elements of the report, focusing on the offering details, associated agreements, regulatory context, and executive signatures.