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ParaZero Technologies Ltd. (PRZO) IPO Overview and Financials

Company Overview

Proposed Symbol PRZO
Company Name ParaZero Technologies Ltd.
Exchange NASDAQ Capital
Share Price $4.25-6.25
Employees 9 (as of 11/28/2022)
Status Filed
Shares Offered 1600000
Offer amount $11,500,000
Shares Over Alloted 240,000
Company Address 30 DOV HOZ KIRYAT ONO 5555626
Company Phone 97236885252
Company Website www.parazero.com
CEO Boaz Shetzer
State of Inc
Fiscal Year End 12/31
Total Offering Expense $950,000.00
Shareholder Shares Offered
Shares Outstanding 5,582,186
Lockup Period (days) 180
Lockup Expiration
Quiet Period Expiration
CIK 0001916241
DealId 1217527-103160

 

Company Description

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. Our company was founded by a group of aviation professionals, together with veteran drone operators, to address the drone industry‚Äôs safety challenges. Our goal is to enable the drone industry to realize its greatest potential through increasing safety and mitigating operational risk. Drones are either navigated manually with a remote control or operated autonomously by software. Drones have long seen widespread use in the military for surveillance and long-range attack purposes and have also been used for weather monitoring and search and rescue operations. As developments in the mobile industry have enabled manufacturers to decrease the size, weight, and cost of batteries and cameras, the drone industry has expanded beyond its largely military-based origins and scale for commercial and civil government use cases. Increased automation of drones and a global concern for sustainability have also driven demand. Drones have become an integral workflow tool among a myriad of global industries and have a wide array of commercial applications, such as photography, agriculture, package delivery, first response/public safety, surveying, construction site monitoring, and infrastructure inspection. Drones are easy enough even for private individuals to maintain and operate and do not require expensive infrastructure, allowing for recreational use. As demand and use cases for commercial drones have increased, so too have concerns over drone safety, and we believe our safety solutions place us in a strong position to take advantage of the developing market and regulatory frameworks, which are increasingly recognizing parachute recovery systems as effective forms of risk mitigation for expanded operational approvals. Our unique, patented technology enables parachute deployment on drones in a fraction of a second using an autonomous computer paired with a ballistic parachute launcher. We believe that we have created a new benchmark in drone safety with low altitude parachute deployment capabilities and high levels of reliability. Globally, our solutions have proven critical to enabling commercial drone operations over populated areas and beyond-visual-line-of-sight, or BVLOS, which require prior approval from aviation regulators, including the U.S., Canada, Israel, Brazil, Singapore, Australia, Ireland and the U.K., among other countries. These authorizations facilitate new business opportunities and applications for expanded drone operations worldwide, thus enhancing the value proposition of our solutions for our customers. — We are an Israeli corporation based in Israel and were incorporated on June 30, 2013, under the name ParaZero Ltd. On September 6, 2018, our name was changed to ParaZero Israel Ltd., and on November 4, 2018, our name was changed to our current name, ParaZero Technologies Ltd. Our principal executive offices are located at 30 Dov Hoz, Kiryat Ono, 5555626, Israel. Our telephone number in Israel is +972-3-688-5252. Our website address is www.parazero.com.

Company Financials

Revenue $145,093.00
Net Income -$948,376.00
Total Assets $1,106,223.00
Total Liabilities $2,150,667.00
Stockholders’ Equity ($1,044,444.00)

 

Company Filings

COMPANY NAME FORM TYPE DATE RECEIVED VIEW
ParaZero Technologies Ltd. F-1 05/24/2022 Link
ParaZero Technologies Ltd. F-1/A 07/01/2022 Link
ParaZero Technologies Ltd. F-1/A 07/19/2022 Link
ParaZero Technologies Ltd. F-1/A 07/29/2022 Link
ParaZero Technologies Ltd. F-1/A 09/07/2022 Link
ParaZero Technologies Ltd. F-1/A 09/15/2022 Link
ParaZero Technologies Ltd. F-1/A 10/06/2022 Link
ParaZero Technologies Ltd. F-1/A 11/04/2022 Link
ParaZero Technologies Ltd. F-1/A 11/28/2022 Link

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