Drone safety systems pioneer ParaZero has filed an IPO this week. The IPO will be underwritten by Aegis Corp.: 2.5 million shares will be offered at a price between $5.20 – $7.20.
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“The Kiryat Ono, Israel-based company plans to raise $16 million by offering 2.5 million units at a price range of $5.20 to $7.20. Each unit consists of one share of common stock and two warrants, exercisable at the IPO price. At the midpoint of the proposed range, ParaZero Technologies would command a full diluted market value of $58 million,” says the Renaissance Capital announcement.
ParaZero is the latest drone ecosystem player to join the markets. Drone safety systems have come to the forefront of the industry as global regulators consider flight beyond visual line of sight (BVLOS) flight and advanced operations. Currently, drone parachutes – ParaZero has a patented system that deploys as part of their autonomous safety system – are the most commercially viable means of meeting regulator’s ground impact standards for flight over people.
In addition to the drone safety systems that ParaZero has produced for popular commercial off the shelf (COTS) drones like the DJI Mavic series, the company develops safety systems for uncrewed aircraft of all sizes, up to eVTOL passenger drones. Their robust OEM business has allowed drone manufacturers around the world to integrate with ParaZero’s SafeAir systems: including Speedbird Aero’s autonomous delivery drones in Brazil.
“ParaZero Technologies was founded in 2013 and booked $1 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol PRZO,” says the Renaissance Capital announcement.
Read more about ParaZero:
- ParaZero and Delta Drone International this Week on Dawn of Drones
- Skywatch.AI Partners with Parazero: Drone Pilots Save Money on Insurance with Safety Systems
- Drones In Construction: Inside the Approval of a Waiver for Flight Over Humans with Hensel Phelps and ParaZero
- ParaZeros SafeAir Opens Up Flight Over People in Canada
- How to Get a Waiver for Flight Over People: ParaZero Meets New ASTM Standards
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
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