Swarmer, Inc (Nasdaq: SWMR) (the “Company” or “Swarmer”), a drone autonomy software company supporting operations in Ukraine, today announced the closing of its previously announced underwritten initial public offering (the “Offering”) of 3,450,000 newly-issued shares of common stock, including the full exercise by the underwriters of their option to purchase 450,000 additional shares of common stock, at a price to the public of $5.00 per share. The shares are listed for trading on the Nasdaq Capital Market under the ticker symbol “SWMR.” The net proceeds to the Company from the offering, after deducting the underwriter discounts and commissions and estimated offering expenses, were approximately $14.7 million. Swarmer intends to use net proceeds from this Offering for funding of ongoing operations, including expansion of capabilities and our product offering, hiring employees, integration with the hardware of drone manufacturers, and for working capital and other general corporate purposes.
