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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) April 30, 2024
AGEAGLE AERIAL SYSTEMS INC.
(Exact Name of Registrant as Specified in Its Charter)
| Nevada | 001-36492 | 88-0422242 | ||
|
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
| 8201 E. 34th Cir N | ||
| Wichita, Kansas | 67226 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(620) 325-6363
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock | UAVS | NYSE American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On April 30, 2024 AgEagle Aerial Systems Inc. (the “Company”) issued a press release announcing the Company has received its largest single purchase order to date from a reseller to the French Army, for the delivery of eBee VISION systems, and other eBee’s, including drones, sensors, datalinks and control stations. A copy of the press release is furnished as Exhibit 99.1 hereto.
The information furnished pursuant to Item 7.01, including Exhibit 99.1 furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | AgEagle Aerial Systems Inc. Press Release dated April 30, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AGEAGLE AERIAL SYSTEMS INC. | ||
| By: | /s/ Mark DiSiena | |
| Name: | Mark DiSiena | |
| Title: | Chief Financial Officer | |
| Dated: April 30, 2024 | ||
Exhibit 99.1
AgEagle Announces $3.4M Drone (UAV) Sale to French Army
| ● | Largest single Purchase Order in the Company’s history | |
| ● | Order indicates progress in global defense and security market |
WICHITA, Kan. – April 30, 2024 – (GLOBENEWSWIRE) – 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, has announced that the Company has secured its largest single purchase order to date to deliver 40 eBee VISION systems, and nine other eBees, including drones, sensors, datalinks, and control stations placed by a reseller to the French Army, specifically tailored for public safety, intelligence surveillance and reconnaissance missions. The revenue from this system contract is expected to be approximately $3.4 million for fiscal year 2024, making this the largest contract in AgEagle’s history.
“We believe this contract award further validates our strategy of defense growth, and the tailoring of our systems for intelligence, surveillance and reconnaissance missions,” said Bill Irby, AgEagle’s Chief Executive Officer “Further, this award leverages our years of working arm-in-arm with our customers and strengthens our position as a leading provider of high-quality, rapidly deployable unmanned vehicle products servicing both military and non-military markets. We’re very proud to be aligned with the French Army.”
“We believe this strategic partnership is highly beneficial for both parties and broadcasts that AgEagle is a formidable long-term player in this space,” said Mark DiSiena, AgEagle’s Chief Financial Officer. “Financially, the size and gravity of the deal not only provides a tremendous boost to our Company’s revenue stream, but demonstrates our ability to secure and fulfill larger deals should they avail themselves.”
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.ageagle.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 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@ageagle.com
Media Email: media@ageagle.com