Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed capital raising by DroneShield Limited (ASX.DRO).

DroneShield is proposing to raise up to approximately A$120 million by way of a single tranche Placement comprising the issue of up to approximately 104.3 million new fully paid ordinary shares issued at $1.15. The offer price of $1.15 represents a 17.3% discount to last close of A$1.39 and a 18.9% discount to 5-day VWAP of A$1.417

Funds will be utilised on DroneShield’s technology development plans and on strategic bolt-on acquisitions.

DroneShield provides world-leading Artificial Intelligence platforms for protection against drones. Its hardware and software detect and safely neutralize small drones used for warfare, terrorism, contraband delivery, and airport disruptions. DRO’s market-leading software, hardware, and engineering capabilities provide the platform with the opportunity to further entrench its market leadership and facilitate future growth.

The offer is available to Australian Sophisticated and Professional Investors only.

For more information, please contact your Shaw and Partners Adviser.