WICHITA, Kan., Oct. 30, 2024 — AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, announces the appointment of Kevin Lowdermilk to the Company’s board of directors effective October 25, 2024.
Company CEO, Bill Irby, commented, “It is a privilege to have Kevin join our board. His distinguished career and leadership in some of the most challenging technology sectors speak to his ability to drive success through vision, strategy and execution. We are grateful to work alongside him and leverage his expertise to support the future expansion of our global footprint in both government and commercial verticals, as we position the Company for long-term shareholder value.”
Kevin Lowdermilk has over 30 years of executive leadership experience and currently serves as both the CEO and CFO of Vaya Space. Prior to Vaya Space, he was the CEO of ISO Group, Inc. – a defense and aerospace supply chain company, he has also served as the CFO and then CEO of Exostar – a supply chain / cyber security company with a focus on the aerospace and defense sector, and he served as the Vice President of Finance for a multi-national aerospace division of Rolls-Royce Holdings PLC. He has also held board positions for a number of companies across a variety of industries, including Global Healthcare Exchange (“GHX”) where he chaired the board’s compensation committee through its sale of GHX to Thoma Bravo and publicly traded company, Digital Health Acquisition Corporation. He currently serves as an independent board member and Audit Committee Chair for publicly traded VSee Health, Inc. He earned his undergraduate degree in Economics from Western Kentucky University and his MBA from Ball State University.
About AgEagle Aerial Systems Inc.
Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack UAS, sensors and software solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.eaglenxt.wpenginepowered.com.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on AgEagle’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the timing and fulfilment of current and future orders relating to AgEagle’s products, the success of new programs, the ability to implement a new strategic plan and the success of a new strategic plan. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of AgEagle in general, see the risk disclosures in the Annual Report on Form 10-K of AgEagle for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by AgEagle. All such forward-looking statements speak only as of the date they are made, and AgEagle undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.
AgEagle Aerial Systems Contacts Investor Relations: Email: UAVS@eaglenxt.wpenginepowered.com Media: Email: media@eaglenxt.wpenginepowered.com
WICHITA, Kan., Oct. 22, 2024 — AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, today issues a Letter to Stockholders from Company CEO Bill Irby.
Dear Stockholders:
First, I want to extend my appreciation for the trust and confidence you have placed in AgEagle. Upon taking over as CEO from Grant Begley (former interim CEO and current Board Chairman), we have been evolving and advancing AgEagle toward the creation of maximum long-term shareholder value.
To fund our aggressive growth plans, we recently completed a $6.5M capital raise. The market’s reaction was a continued decline in our stock price. It became necessary to plan and execute a 50:1 reverse stock split. Our trading was halted October 4th but has since resumed, and I am truly optimistic regarding the path ahead as I believe that the company is currently under-valued for the following reasons:
AgEagle has made tremendous operational progress.
AgEagle is Executing its new Strategic Plan – Shifting Significantly for Growth
In conclusion, through a combination of our key initiatives, growing demand, and demonstrated progress in our newest market, I believe AgEagle is on the correct path to increase long-term shareholder value. We appreciate your continued support.
Sincerely,
Bill Irby CEO
Wichita, Kansas, Oct. 03, 2024 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, announced today a reverse stock split of its authorized, issued and outstanding common stock, par value $0.001 per share, at a ratio of one (1) share of common stock for every fifty (50) shares of common stock, effective as of 5:00 p.m. (Eastern Time) on October 14, 2024 (the “Effective Date”). The Company’s common stock will begin trading on a split-adjusted basis when the market opens on October 15, 2024. The reverse stock split was authorized by the Company’s Board of Directors on October 3, 2024. Pursuant to the laws of the State of Nevada, the Company’s state of incorporation, the Company’s Board of Directors has the authority to effect a reverse stock split without shareholder approval if the number of authorized shares of common stock and the number of outstanding shares of common stock are proportionally reduced. The Company will file a certificate of change to its articles of incorporation, as amended, with the Secretary of State of Nevada to effect the reverse stock split. The Company’s common stock will continue to trade on the NYSE American under the stock ticker “UAVS” but will trade under the new CUSIP number 00848K 309.
As a result of the reverse split, each fifty (50) pre-split shares of common stock outstanding will automatically combine into one (1) new share of common stock without any action on the part of the holders, and the number of outstanding common shares will be reduced from 39,720,458 shares to approximately 850,409 shares without taking into account fractional shares.
The reverse stock split is being effected to ensure that the Company can meet the per share price requirements of the NYSE American, the Company’s current listing exchange.
No fractional shares will be issued as a result of the reverse stock split. Shareholders who otherwise would be entitled to a fractional share because they hold a number of shares not evenly divisible by the 1 (one) for fifty (50) reverse split ratio, will automatically be entitled to receive an additional fractional share of the Company’s common stock to round up to the next whole share.
The Company’s transfer agent, Equiniti Trust Company, which is also acting as the exchange agent for the reverse split, will send instructions to stockholders of record who hold stock certificates regarding the exchange of their old certificates for new certificates, should they wish to do so. Stockholders who hold their shares in brokerage accounts or “street name” are not required to take action to effect the exchange of their shares.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. For more detailed information relating to this transaction, please refer to the related Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission.
Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.eaglenxt.wpenginepowered.com.
Forward-Looking Statement
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
AgEagle Aerial Systems Contacts
Investor Relations Email: UAVS@eaglenxt.wpenginepowered.com
Media Email: media@eaglenxt.wpenginepowered.com
Annual event featured UAS industry leaders determined through rigorous selection process
WICHITA, Kan., Oct. 03, 2024 — AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, announces the Company was selected to participate in the REPMUS 2024 Exercise co-hosted by NATO. Exercises and demonstrations took place September 9 -27, 2024 in Troia, Portugal.
REPMUS (Robotic Experimentation and Prototyping augmented by Maritime Unmanned Systems) is an annual Portuguese Navy (PN)-led, NATO co-hosted exercise, focusing on maritime unmanned system (MUS) capability development. The objective of REPMUS 2024 is to conduct large-scale operational experimentation. The exercise facilitated the engagement of operational communities with the industry and academia, integrating the latest commercial off-the-shelf systems for trials. It also focused on validating experimental tactics, upgraded vehicles, software updates, integrated payloads, and command and control on Maritime Unmanned Systems (MUS) to address key operational issues. The last REPMUS exercise, which took place in September 2023, was attended by more than 25 Navies, 8 NATO entities and more than 30 companies and universities dedicated to research and development in this area.
Bill Irby, AgEagle CEO, commented, “The REPMUS selection process was rigorous, requiring extensive documentation to ensure we met all NATO criteria for medium-range capabilities. To be included among the industry leaders selected for this event is an honor that we believe will greatly benefit the Company with increased visibility among NATO decision-makers and international stakeholders. The exercise demonstrated enhanced integration with the latest COTS systems and real-world testing of Experimental Tactics (EXTACs). Establishing the interoperability of our eBee VISION was crucial due to the presence of armies from various countries with different protocols. We achieved a variety of milestones, most notably the validation of the VISION’s ability to perform in sustained combat conditions. We look forward to continuing to expand the global footprint of our products, leveraging both government and commercial verticals, as we position the Company for long-term shareholder value.”
Through multiple flight serials over the course of a 14-day period the Company conducted 19 flights while connecting with a mesh network and 2 programs of record ATAK and the NATO COP software. ATAK is a situational awareness tool meant to enable the tactical warfighter, COP is a Common Operation Picture displaying the status from multiple warfighting functions to aid commanders in decision making and synchronize information from multiple domains across time and space.
This selection was achieved in collaboration with the Company’s partner in the UK, Brigantes Consulting Ltd.
Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack UAS, sensors and software solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.eaglenxt.wpenginepowered.com
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of AgEagle and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and AgEagle undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although AgEagle believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of AgEagle in general, see the risk disclosures in the Annual Report on Form 10-K of AgEagle for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by AgEagle.
Investor Relations:Email: UAVS@eaglenxt.wpenginepowered.comMedia:Email: media@eaglenxt.wpenginepowered.com
Wichita, Kan., Oct. 01, 2024 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, today announced the closing of a public offering with gross proceeds to the Company of approximately $6.5 million, before deducting placement agent fees and other estimated offering expenses payable by the Company.
The offering consisted of 26,899,996 Units, each consisting of one (1) share of our common stock, $0.001 par value per share (the “Common Stock”) or one Pre-Funded Warrant to purchase one share of Common stock, one Series A warrant (“Series A Warrant”) to purchase one share of Common Stock and one Series B warrant (“Series B Warrant”) to purchase one share of Common Stock. The public offering price per Unit was $0.24 (or $0.239 for each Unit with a Pre-Funded Warrant, which was equal to the public offering price per Unit with a share of Common Stock sold in the offering minus an exercise price of $0.001 per Pre-Funded Warrant). The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until exercised in full. The initial exercise price of each Series A Warrant is $0.24 per share of Common Stock or pursuant to an alternative cashless exercise option. The Series A Warrants are exercisable immediately and expire five years from the closing date of the public offering. The initial exercise price of each Series B Warrant is $0.50 per share of common stock. The Series B Warrants are exercisable immediately and expire five years from the closing date of the public offering.
Aggregate gross proceeds to the Company are approximately $6.5 million. The Company expects to use the proceeds from the offering for the repayment of an outstanding note and the remainder for general corporate and working capital purposes.
Spartan Capital Securities, LLC acted as the sole placement agent for the offering. Duane Morris LLP. acted as counsel to the Company. Manatt, Phelps & Phillips LLP acted as counsel to Spartan Capital Securities, LLC.
The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333-281897) previously filed with the U.S. Securities and Exchange Commission (“SEC”) on September 30, 2024, as amended, which became effective on September 30, 2024. The offering was made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained on the SEC’s website located at https://www.sec.gov. Electronic copies of the final prospectus relating to the offering may be obtained from: Spartan Capital Securities, LLC, 45 Broadway, New York, NY 10006, at (212) 293-0123.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Wichita, Kan., Sept. 30, 2024 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, today announced the pricing of a public offering with gross proceeds to the Company expected to be approximately $6.5 Million, before deducting placement agent fees and other estimated offering expenses payable by the Company.
The offering consists of 26,900,000 Units, each consisting of one (1) share of our common stock, $0.001 par value per share (the “Common Stock”) or one Pre-Funded Warrant to purchase one share of Common stock, one Series A warrant (“Series A Warrant”) to purchase one share of Common Stock and one Series B warrant (“Series B Warrant”) to purchase one share of Common Stock. The public offering price per Unit is $0.24 (or $0.239 for each Unit with a Pre-Funded Warrant, which is equal to the public offering price per Unit with a share of Common Stock to be sold in the offering minus an exercise price of $0.001 per Pre-Funded Warrant). The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until exercised in full. The initial exercise price of each Series A Warrant is $0.24 per share of Common Stock or pursuant to an alternative cashless exercise option. The Series A Warrants are exercisable immediately and expire five years from the closing date of this public offering. The initial exercise price of each Series B Warrant is $0.50 per share of common stock. The Series B Warrants are exercisable immediately and expire five years from the closing date of this public offering.
Aggregate gross proceeds to the Company are expected to be approximately $6.5 Million. The transaction is expected to close on or about October 1, 2024, subject to the satisfaction of customary closing conditions. The Company expects to use the proceeds from the offering for the repayment of an outstanding note and the remainder for general corporate and working capital purposes.
Spartan Capital Securities, LLC is acting as the sole placement agent for the offering. Duane Morris LLP. is acting as counsel to the Company. Manatt, Phelps & Phillips LLP is acting as counsel to Spartan Capital Securities, LLC.
The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-281897) previously filed with the U.S. Securities and Exchange Commission (“SEC”) on September 30, 2024, as amended, which became effective on September 30, 2024. The offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the preliminary prospectus and, when available, copies of the final prospectus, relating to the offering may be obtained on the SEC’s website located at https://www.sec.gov. Electronic copies of the final prospectus relating to the offering may be obtained, when available, from: Spartan Capital Securities, LLC, 45 Broadway, New York, NY 10006, at (212) 293-0123. Before investing in this offering, interested parties should read the prospectus in its entirety, which provides more information about the Company and such offering.
Flight event at FAA-designated site evaluated the integration of select UASs with Air Force Research Lab (AFRL) airspace system
WICHITA, Kan., Aug. 29, 2024 — AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, announces the Company was selected for and participated in a collaborative test flight event sponsored by the Defense Innovation Unit (DIU).
The three-day event, in partnership with the Office of the Under Secretary of Defense for Acquisition & Sustainment (OUSD-A&S), Air Force Research Lab (AFRL), Auterion GS, AX Enterprize, Skydio, and Somewear Labs, was held at the 300-acre FAA-designated NY UAS Test Site. The purpose was to evaluate the integration of select Blue Unmanned Aerial System (UAS) platforms with the Collaborative Low-Altitude UAS Integration Effort (CLUE) Uncrewed Traffic Management (UTM) system. This system, developed by AFRL, provides a way to enable the safe, secure, and efficient operations of UAS within the national airspace system.
Bill Irby, AgEagle CEO, commented, “We are grateful to be among the distinguished group of demonstration partners and products selected for this event. Successfully integrating with various flight operation components helps establish trust in our capabilities to support a variety of Department of Defense missions anywhere in the world.”
By combining the telemetry data provided by the UAS with other data feeds, such as automatic dependent surveillance-broadcast (ADS-B), counter-UAS sensors, and nearby radars, the CLUE system provided a visual situational awareness tool that can assist with air traffic deconfliction, flight area allocation, Federal Aviation Administration compliance, and identification of other UASs.
From July to mid-August sensor and sensor-related purchase orders total approximately $800,000
WICHITA, Kan., Aug. 22, 2024 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, announces the Company has received numerous purchase orders totaling approximately $800,000 of sensors and sensor-related accessories through its network of Value Added Resellers (“VAR”) from July 1, 2024 to Aug 15, 2024, of which approximately $600,000 has shipped to date. The Company received purchase orders for 87 sensors, including RedEdge-P, Altum-PT and RedEdge-P dual sensors and a variety of accessories, of which 67 sensors have shipped to date.
Bill Irby, AgEagle President, stated, “We are grateful for the growth achieved through our trusted VAR network as the Company achieves another notable sales milestone. Our best-in-class multispectral, panchromatic and thermal sensors are now integrated in over 150 different drones worldwide and distributed in over 70 countries. As our sensor products continue to fulfill the diverse needs of our commercial and government customers, we look forward to pursuing growth across our entire product line to best position the company for long-term shareholder value.”
Altum-PT™ – Optimized 3-in-1 solution for advanced remote sensing and agricultural research. Seamlessly integrates a 12 MP high-resolution panchromatic sensor, a thermal sensor, and five discrete spectral bands. NDAA compliant.
RedEdge-P™ – High-resolution multispectral and RGB sensor features a high-resolution panchromatic band for pan-sharpened output resolutions of 2 cm / 0.8 in at 60 m / 200 ft. Its five narrow multispectral bands with scientific-grade filters make it the perfect camera for calculating multiple vegetation indices and composites.
RedEdge-P dual™ – Features 10 spectral bands for enhanced data comparison with satellites. High-resolution multispectral and RGB composite drone sensor for plants classification, weeds identification, environmental research and conservation, and vegetation analysis of water bodies.
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, our ability to fulfill all purchase orders, the timing of completion of purchase orders, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.
AgEagle Aerial Systems Contacts: Investor Relations Email: UAVS@eaglenxt.wpenginepowered.com Media Email: media@eaglenxt.wpenginepowered.com
From July to mid-August sensor and sensor-related sales total $833,610
WICHITA, Kan., Aug. 22, 2024 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, announces the Company has sold $833,610 of sensors and sensor-related accessories through its vast network of Value Added Resellers (“VAR”) from July 1, 2024 to Aug 15, 2024. The Company closed sales of 87 sensors, including RedEdge-P, Altum-Pt and RedEdge-p Dual sensors and a variety of accessories.
Bill Irby, AgEagle President, stated, “We are grateful for the accretive growth achieved through our trusted VAR network as the Company achieves another notable sales milestone. Our best-in-class multispectral, panchromatic and thermal sensors are now integrated in over 150 different drones worldwide and distributed in over 70 countries. As our sensor products continue to fulfill the diverse needs of our commercial and government customers, we look forward to pursuing growth across our entire product line to best position the company for long-term shareholder value.”
Altum-Pt Sensor™ – Optimized 3-in-1 solution for advanced remote sensing and agricultural research. Seamlessly integrates a 12 MP high-resolution panchromatic sensor, a new thermal sensor that provides twice the ground resolution of the previous Altum, and five discrete spectral bands. NDAA compliant.
RedEdge-P Sensor™ – High-resolution multispectral and RGB sensor features a high-resolution panchromatic band for pan-sharpened output resolutions of 2 cm / 0.8 in at 60 m / 200 ft. Its five narrow multispectral bands with scientific-grade filters make it the perfect camera for calculating multiple vegetation indices and composites.
RedEdge-P Dual™ – Features 10 spectral bands for enhanced data comparison with satellites. High-resolution multispectral and RGB composite drone sensor for plants classification, weeds identification, environmental research and conservation, and vegetation analysis of water bodies.
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, our ability to fulfill all orders, the timing of completion of orders, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.
AgEagle Aerial Systems Contacts: Investor Relations Email: UAVS@eaglenxt.wpenginepowered.comMedia Email: media@eaglenxt.wpenginepowered.com
Delivery of the initial 20 of 49 systems effectuates the largest single purchase order in Company history
WICHITA, Kan., Aug. 20, 2024 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, announces the delivery of the first 20 eBee VISION systems to its reseller for French Army surveillance operations. Each system consists of an eBee VISION UAV, ground control systems, comms and antenna package, and a tactical backpack unit. The units delivered pursuant to this purchase order will be followed by a comprehensive spares package, with the total order valued at $3.4M.
Bill Irby, AgEagle President, stated, “This marks a significant milestone in our defense market growth strategy. Our best-in-class rapidly deployable unmanned vehicle products continue to provide high-value intelligence, surveillance and reconnaissance support to military operations. We look forward to expanding our support of allied and U.S. military customers as we remain committed to building long-term shareholder value.”
About AgEagle Aerial Systems Inc. Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.eaglenxt.wpenginepowered.com.
Forward-Looking Statements This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the timing of future deliveries, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.
