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Swarmer To Raise Up To $17.25 Million In IPO; Trading Starts Today

Cal Biesecker By
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Swarmer To Raise Up To $17.25 Million In IPO; Trading Starts Today
Photo: Swarmer

Drone autonomy company Swarmer late Monday announced its initial public offering (IPO) with three million shares of common stock priced at $5 apiece, with a 30-day option for the underwriter to buy 450,000 more shares, bringing the total expected funding raise to between $15 million and $17.25 million less underwriting discounts and commissions. Swarmer is set to begin trading today on the Nasdaq using the stock symbol “SWMR,” (Defense Daily, Feb. 2). The primary use of the stock funds is…

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