AgEagle Aerial Systems, Inc. - UAVS STOCK NEWS

AgEagle Aerial Systems (NYSE: UAVS) has secured 17 new purchase orders for eBee TAC drones from U.S. defense and security customers. The eBee TAC platform specializes in tactical mapping, surveillance, and 3D visualization capabilities, designed for defense and cross-industry applications. The company expects to deliver all 17 systems by the end of November. This milestone aligns with AgEagle's U.S. defense and security market growth strategy, positioning the company in the Tactical Intelligence, Surveillance, and Reconnaissance (ISR) vertical.

AgEagle Aerial Systems (NYSE: UAVS), a provider of unmanned aerial systems, sensors and software solutions, has received notice from NYSE American confirming its regained compliance with continued listing standards. The notice, received on November 6, 2024, confirms that AgEagle now meets the requirements of Section 801(h) and Section 803(B(2)(C) of the NYSE American Company Guide by having at least 50% board independence and two independent audit committee members.

AgEagle Aerial Systems (NYSE: UAVS) has received a non-compliance notice from NYSE American on October 30, 2024, due to two issues: insufficient independent directors on its Board (less than 50%) and inadequate independent members in its Audit Committee (less than two members). The company has until its next annual meeting or one year to resolve the Board composition issue, and similar deadlines apply for the Audit Committee requirement. AgEagle must submit a compliance plan by November 5, 2024. While the stock continues to trade on NYSE American, failure to address these issues could result in delisting proceedings.

AgEagle Aerial Systems (NYSE: UAVS) has appointed Kevin Lowdermilk to its Board of Directors, effective October 25, 2024. Lowdermilk brings over 30 years of executive leadership experience, currently serving as CEO and CFO of Vaya Space. His extensive background includes leadership roles at ISO Group, Exostar, and Rolls-Royce Holdings PLC. The appointment aims to leverage his expertise in technology, aerospace, and defense sectors to support AgEagle's global expansion in government and commercial verticals.

AgEagle Aerial Systems Inc. (NYSE: UAVS) CEO Bill Irby has issued a letter to shareholders highlighting recent corporate actions aimed at positioning the company for long-term value. Key points include:

1. Completion of a $6.5M capital raise and a 50:1 reverse stock split.
2. Fulfillment of two largest orders in company history, totaling $5.5M for French Army and UAE security forces.
3. Implementation of new KPIs and operational processes.
4. Shift in strategic focus to three vertical markets: military, public safety, and agricultural/commercial.
5. Introduction of the eBee VISION™ drone as core product.
6. Recent purchase orders for 17 U.S. eBee TAC units in October.
7. Initiation of site optimization project, including expansion of U.S. production.

Irby expresses optimism about the company's future, citing operational progress and strategic realignment as key factors for potential growth and increased shareholder value.

AgEagle Aerial Systems announced a reverse stock split at a ratio of 1-for-50, effective October 14, 2024. The stock will trade on a split-adjusted basis starting October 15, 2024, under the ticker UAVS and a new CUSIP number. This action reduces the outstanding shares from 39,720,458 to approximately 850,409, aiming to meet NYSE American's per share price requirements. Shareholders will not need to take any action for the adjustment, and fractional shares will be rounded up. The reverse split was authorized by the Board of Directors, leveraging Nevada state laws that allow such changes without shareholder approval. The company's transfer agent, Equiniti Trust Company, will manage the exchange process for stockholders with physical certificates.

AgEagle Aerial Systems Inc. (NYSE: UAVS) has been selected to participate in the REPMUS 2024 Exercise co-hosted by NATO in Troia, Portugal from September 9-27, 2024. REPMUS, led by the Portuguese Navy, focuses on maritime unmanned system capability development. The exercise aims to conduct large-scale operational experimentation, integrating the latest commercial off-the-shelf systems for trials.

AgEagle's CEO, Bill Irby, highlighted the rigorous selection process and the importance of this opportunity for increased visibility among NATO decision-makers. The company's eBee VISION demonstrated enhanced integration with COTS systems and validated its ability to perform in sustained combat conditions. AgEagle conducted 19 flights over 14 days, connecting with a mesh network and two programs of record: ATAK and NATO COP software.

This selection was achieved in collaboration with AgEagle's UK partner, Brigantes Consulting The company aims to expand its global footprint in both government and commercial verticals, positioning itself for long-term shareholder value.

AgEagle Aerial Systems Inc. (NYSE American: UAVS) has announced the closing of a $6.5 million public offering. The offering consisted of 26,899,996 Units, each priced at $0.24 and including one share of common stock or one Pre-Funded Warrant, along with Series A and Series B warrants. The company plans to use the proceeds for repaying an outstanding note and general corporate purposes.

The offering included immediately exercisable Pre-Funded Warrants, Series A Warrants with an initial exercise price of $0.24 per share, and Series B Warrants with an initial exercise price of $0.50 per share. Both Series A and B Warrants expire five years from the closing date. Spartan Capital Securities, acted as the sole placement agent for the offering.

AgEagle Aerial Systems Inc. (NYSE American: UAVS) has announced the pricing of a $6.5 million public offering. The offering consists of 26,900,000 Units, each priced at $0.24 and including one share of common stock or one Pre-Funded Warrant, plus Series A and B warrants. The company plans to use the proceeds for repaying an outstanding note and general corporate purposes. Spartan Capital Securities, is acting as the sole placement agent. The offering is expected to close around October 1, 2024, subject to customary conditions. AgEagle, founded in 2010, is a provider of drone solutions for various industries including energy, construction, agriculture, and government sectors.