ParaZero Technologies Ltd.
(Note: This is a stock-only IPO again – as of its F-1/A filing dated March 23, 2023: 1.95 million shares at $4.00 to $6.00 to raise $9.75 million. This is a change from its previous structure as a unit offering of up to 1.6 million units at $4.25 to $6.25 to raise $8.4 million – terms that had been set in November 2022. Under the unit terms, each unit consisted of one share of common stock and two warrants – each to buy a share of common stock. See notes at the end of the IPO Profile on the updated terms and the history of filings.)
We are an aerospace company that is focused on drone safety systems and engaged in the business of designing, developing, and providing what we believe are best-in-class autonomous parachute safety systems for commercial drones, also known as unmanned aerial systems or UAS. (Incorporated in Israel)
Our company was founded by a group of aviation professionals, together with veteran drone operators, to address the drone industry’s safety challenges. Our goal is to enable the drone industry to realize its greatest potential through increasing safety and mitigating operational risk.
Our unique patented technology for drones, the SafeAir system, is designed to protect hardware, people and payload in the event of an in-flight failure. The SafeAir system is a smart parachute system that monitors UAS flight in real time, identifies critical failures and autonomously triggers a parachute in the event that certain parameters indicative of a free fall are present. The system contains a flight termination system, a black box to enable post-deployment analysis, and a warning buzzer to alert people of a falling drone. In addition to being fully autonomous, the SafeAir system includes a separate remote control for manual parachute deployment capability.
We have a global distribution footprint and have forged partnerships all around the world, including India, South Korea, the United States, Latin America and Europe. We sell our drone safety systems as off-the-shelf solutions, as well as perform integrations with original equipment manufacturers, or OEMs, offering customized, bespoke safety solutions for a large variety of aerial platforms.
Our technology has been sold to and used by some of the world’s top companies and organizations, including drone companies such as LIFT Aircraft, Airobotics, SpeedBird Aero and Doosan Corporation, and other leading brands such as CNN, The New York Times, Hensel Phelps, Verizon Media (Skyward), Fox Television, the Chicago Police Department and Fortis Construction.
**Note: Revenue and net loss figures are for the year that ended Dec. 31, 2022.
(Note: This is a stock-only IPO again – as of its F-1/A filing dated March 23, 2023: 1.95 million shares at $4.00 to $6.00 to raise $9.75 million. This is a change from its previous structure as a unit offering of up to 1.6 million units at $4.25 to $6.25 to raise $8.4 million – terms that had been set in November 2022. Under the unit terms, each unit had consisted of one share of common stock and two warrants – each to buy a share of common stock. See notes at the end of the IPO Profile on the updated terms and the history of filings.)
(Note: ParaZero has also registered an aggregate of 4,001,423 Ordinary Shares for resale by certain shareholders, or the Selling Shareholders, at an assumer public offering price of $5.00 per share, under a separate resale prospectus. These shareholders may sell their shares at any time – or not at all. Please see “Plan of Distribution” in the resale prospectus. The selling shareholders are not subject to any lock-up or leakage agreements, the prospectus says.)
(Note: ParaZero Technologies Ltd. filed an F-1/A dated Feb. 15, 2023, to revive its IPO – as a unit IPO – same terms as before with Aegis Capital as the sole book-runner. ParaZero Technologies Ltd. relaunched its IPO on Monday, Nov. 28, 2022, with a pricing date set for Dec. 15, 2022, and the same terms: 1.6 million units at $4.25 to $6.25 to raise $8.4 million. ParaZero Technologies had planned to price its IPO on Dec. 15, 2022, after relaunching the IPO on Monday, Nov. 28, 2022, with the unit IPO terms – 1.6 million units at $4.25 to $6.25 – but the deal was postponed.)
(Background: ParaZero Technologies Ltd.’s IPO was among several small deals whose pricing dates were delayed in mid-September 2022 after the NASDAQ put a hold on approving small-cap IPO listings during the week of Sept. 19, 2022. The IPO’s original terms – 2.53 million units at $5.20 to $7.20 to raise $15.69 million – were disclosed in an F-1/A filing dated Sept. 7, 2022. ParaZero Technologies filed its F-1 (prospectus) on May 24, 2022, after filing confidential IPO paperwork on March 11, 2022,))
|Industry:||Aircraft Parts & Auxiliary Equipment, NEC|
|Address||30 Dov Hoz Kiryat Ono, 5555626, Israel|
|View Prospectus:||ParaZero Technologies Ltd.|
|Revenues||$0.56 mil (last 12 months)|
|Net Income||$-1.65 mil (last 12 months)|
|Price range||$4.00 - $6.00|
|Est. $ Volume||$9.8 mil|
|Manager / Joint Managers||Aegis Capital Corp.|
|Expected To Trade:||5/12/2023|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|