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

The Company is seeking to raise A$70.2 million by way of a single tranche, fully underwritten Placement of new ordinary fully paid shares issued at A$0.80.  The Company will also undertake a Share Purchase Plan (SPP) to raise an additional $5m. The company reserves the right to accept oversubscriptions. The issue price of A$0.80 represents a 19 per cent discount to the five-day volume-weighted average price of A$0.99 and a 28 per cent discount to the last close of $1.12.

DroneShield is a market leading provider of state of the art counter drone solutions providing detection and defeat solutions to protect Military, Government, Law Enforcement, Critical Infrastructure, Commercial and VIPs throughout the world. The current global geopolitical environment provides a significant tailwind for DroneShield given the rapidly rising use of drones in conflicts and the associated counter-drone, defence and security spend.

DroneShield has a high quality pipeline of government customers with over $500m of projects anticipated across 2024 and 2025 underpinning their rapid revenue growth.

Proceeds raised from the offer will be used to fund the build up of inventory to support DroneShield’s strong pipeline of high-quality customer opportunities as well as the scaling of the engineering team to accelerate development of in-house artificial intelligence (AI) and machine learning (ML) engines and capabilities for enhanced detection, identification and response of UAS threats.

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

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