Epirus Invests AU$3.7 million in DroneShield via a placement

DroneShield Ltd (ASX: DRO) announced that it had received binding commitments from Epirus, Inc. to raise AU$3.7 million. The placement comprised the issue of approx. 18,500,000 fully paid ordinary shares at AU$0.20 per new share. The issue price denotes a 2.4% discount to the last closing price of 20.5c per share.

Epirus is a high-growth U.S.-based technology company developing software-defined directed energy systems that allow unprecedented counter-electronics effects and power management solutions to optimize power efficiency in defense and commercial applications. The placement would result in Epirus buying an approximate 4.1% stake in DroneShield.

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