Safe Pro Group completes $8M private placement with drone firms

Safe Pro Group Inc. (NASDAQ: SPAI) completed an $8 million private placement with strategic investors including Ondas Holdings Inc. (NASDAQ: ONDS) and Unusual Machines Inc. (NYSE: UMAC), according to a company statement.

The private placement involved the sale of 2 million shares of common stock at $4.00 per share, along with warrants to purchase an additional 2 million shares at an exercise price of $6.00 per share. The total investment package could reach $20 million if all warrants are exercised.

Safe Pro Group, which develops AI-powered defense and security solutions, plans to use the proceeds to fund commercialization of its patented AI technologies. These include its Safe Pro Object Threat Detection (SPOTD) system and the newly developed Navigation Observation Detection Engine (NODE), as well as for working capital needs.

The company specializes in drone imagery processing using commercially available drones combined with proprietary machine learning and computer vision technology for explosive threat identification. Its platform operates on Amazon Web Services and targets commercial, government, law enforcement and humanitarian sectors.

Ondas Holdings provides autonomous drone and private wireless solutions through its business units. Unusual Machines manufactures and sells drone components and drones, including Fat Shark FPV video goggles for drone pilots.

Northland Capital Markets and Dawson James Securities served as financial advisors for the transaction. The shares sold in the private placement were not registered under the Securities Act of 1933 and cannot be offered or sold in the United States without registration or an applicable exemption.

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