Safe Pro Group, which makes ballistic protective products and provides mission critical drone services, filed on Friday with the SEC to raise up to $6 million in an initial public offering.
The Aventura, FL-based company plans to raise $6 million by offering 1.2 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Safe Pro Group would command a fully diluted market value of $72 million.
Safe Pro is focused on the development of a cloud-based ecosystem for analyzing drone imagery utilizing proprietary artificial intelligence, machine learning, deep learning, and applied computer vision software for hyper scalable processing, analysis, and reporting. Its core capabilities include artificial intelligence/machine learning, mission critical drone services, and the manufacture of ballistic protective products, with the goal of assembling unique safety and security technologies for governments, enterprises, and non-governmental organizations, enabling them to respond to evolving threats.
Safe Pro Group was founded in 2021 and booked $1 million in revenue for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol SPAI. The company filed confidentially on April 17, 2024. Dawson James is the sole bookrunner on the deal.
