Mobilicom Fortfies Balance Sheet With Warrant Exercises

Mobilicom Limited, a provider of cybersecurity and robust solutions for drones and robotics, has announced that holders of warrants to purchase 761,290 ADRs issued in the Company’s registered direct offering in January 2024, have exercised their warrants for aggregate gross proceeds of approximately $1.2 million.

“Over the past month, we’ve seen our company’s valuation increase over 150%, and this has created economics that encouraged some of our institutional investors to exercise warrants. With this latest cash injection, our balance sheet is further fortified, which we expect to give us a cash runway of at least 24 months, which may be further extended as adoption of our drone technologies are increasingly gaining traction in a high-growth market. Our most recently reported financial results for the first half of 2024 demonstrate that our revenues more than tripled, gross margins increased, net loss narrowed and net cash used in operating activities halved compared to the same period in 2023,” stated Mobilicom CEO and Founder Oren Elkayam. “We believe the favorable market dynamics at this time for military and civilian drone and robotics indicate Mobilicom will have a strong 2025.” 

Mobilicom is a leading provider of cybersecure robust solutions for the rapidly growing defense and commercial drones and robotics market.  Mobilicom’s large portfolio of field-proven technologies includes cybersecurity, software, hardware, and professional services that power, connect, guide, and secure drones and robotics.

Through deployments across the globe with over 50 customers, including the world’s largest drone manufacturers, Mobilicom’s end-to-end solutions are used in mission-critical functions.