March 23, 2023

DroneShield Ltd. Exceeds Expectations with Share Purchase Plan

Sydney, Australia – DroneShield Ltd. (DRO:ASX; DRSHF:OTC) has exceeded expectations with its share purchase plan, raising AU$40.3 million (AU$40.3M) before costs, according to a report by Bell Potter analyst Daniel Laing. The Australian defense firm saw “huge” demand for its share purchase plan, greatly exceeding the anticipated AU$3M.

Laing noted that the high level of demand from existing shareholders is a positive sign for the company. DroneShield will likely use the new funds to quickly build up inventory, scale up certain parts of the business, and for working capital.

The company’s decision to bolster its inventory is a sign that it expects and is preparing for significant near-term growth. DroneShield specializes in counterdrone technology, products, and solutions, and has been gaining traction in the defense industry.

DroneShield’s success in raising funds through its share purchase plan is a testament to the company’s strong position in the market. The firm’s innovative technology and solutions have garnered attention from investors and customers alike.

With the new funds, DroneShield is well-positioned to continue its growth trajectory and expand its reach in the defense industry. The company’s success is a positive sign for the Australian defense sector, which has been gaining momentum in recent years.

Investors will be watching closely as DroneShield continues to build on its success and expand its presence in the global defense market.

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