Drone cybersecurity developer Mobilicom files for $17M

Israeli drone technology provider Mobilicom has filed to raise up to $17M through a US initial public offering.

Mobilicom said in a recent filing that it planned to raise up to $17.3M plus $1.1M through the exercise of warrants by the deal’s representative. The filing did not specify the number of shares to be offered nor the price.

The company said that it plans to list its shares on Nasdaq. Think Equity is serving as lead bookrunner. Mobilicom's shares already trade on the Australian exchange.

Mobilicom designs and develops hardware, software and cybersecurity products for drones and other small unmanned aerial devices. The products can be used for both military and civilian purposes.

The company added that it expects increased demand for its products due to the Ukraine conflict, which has seen a significant uptick in military drone use and cyber-attacks on drones to render them ineffective.

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