Essential details about Safe Pro Group Inc.’s upcoming IPO, including the offering date, price range, and allotment process
Safe Pro Group Inc. has published that its IPO is going to be floated on August 20th of August 2024. It is a company specializing in advanced safety and security solutions, providing innovative products and services to protect individuals and assets across various industries. It aims to gather US$6.0 million with 1,200,000 shares, with a price range of US$4.25 to US$5.75.
Table of Contents
- Company Overview
- Company Strategy
- IPO Profile
- IPO Objective
- Application Process of IPO
- Financial Analysis of Company
- Competitor Analysis
- Details on Company Management
- Manager/ Joint Manager of Safe Pro Group, Inc.
- Company Address
Company Overview
Safe Pro Group Inc. is a manufacturer and distributor of innovative security and safety products for individuals, businesses, and organizations in a wide variety of industries. The company focuses more on new technologies that increase protective equipment, security & surveillance, and response and equipment management to offer quality and reliable security solutions to firms and works with various clients, including government offices and companies. The company is dedicated to the improvement of every aspect of the business, setting higher standards in the field of safety and security for customers all over the world.
Company Strategy
The company’s corporate strategy is to offer both increased and new value-adding safety and security products to support its clients through the ongoing process of research, development, and partnership in security solutions. Thus, the company is set to increase its market share by responding to new security requirements in the governmental, business, and housing sectors to offer customer-centric security solutions to gain a competitive advantage in the market. The company also seeks to expand through acquisitions and go international in a bid to become a key player in the safety and security niche.
IPO Profile
| Symbol: | SPAIN |
| Exchange: | NASDAQ |
| Shares: | 1.2 million shares |
| Price Range: | US$4.25 – US$5.75 |
| Estimated Value: | US$6.0 million |
| Manager/ Joint Manager | Dawson James Securities |
| Co-managers | NA |
IPO Objective:
The IPO funds are to be utilized to build an ecosystem for the analysis of drone imagery including applications of AI, ML, and deep learning. Also, it aims to produce more ballistic protective products while enhancing mission-critical drone services. The IPO will also help to create a stronger position in the market for Safe Pro and can finance the acquisition aimed at expanding the line of safety and security products.
Application Process of IPO
To invest in NASDAQ, it is necessary to make use of a brokerage account. As a first step, enroll in a reliable brokerage firm that offers trading in NASDAQ, and fill out the registration form with your basic and financial information. In the next step, make some deposits into your account in preparation for buying shares. Enter the brokerage account trading division, identify the preferred stock, indicate the number of shares to be bought or sold, and select an order kind (Market, Limit, or Stop). Reiterate your order information and finalize the purchase.
Financial Analysis of the Company
Safe Pro Group has a market cap or net worth of US$52.85 million. The enterprise value is US$53.71 million.
Financials in millions of USD.
| Particulars (in million) | 2023 | 2022 |
| Revenue | 0.92 | 1.15 |
| Gross Profit | 0.31 | 0.52 |
| Operating Income | -6.31 | -0.5 |
| Pretax Income | -6.31 | -0.51 |
| Net Income | -6.31 | -0.51 |
| EBITDA | -6.07 | -0.4 |
| EBIT | -6.31 | -0.5 |
Safe Pro Group Inc. presents a financial profile characterized by significant losses and declining profitability. In 2023, the company reported revenue of $0.92 million, down from $1.15 million in 2022. Gross profit also decreased to $0.31 million from $0.52 million the previous year. Operating and net income losses widened to $6.31 million in 2023, compared to $0.50 million in 2022. EBITDA and EBIT similarly reflect substantial negative figures of $6.07 million and $6.31 million, respectively. These financial challenges highlight the need for careful consideration by potential investors regarding the company’s growth prospects and operational improvements.
Competitor Analysis
Here are some of the top competitors of Safe Pro Group, Inc.
Axon Enterprise, Inc.
Axon Enterprise, Inc. is involved in the manufacturing and supply of technologies for public safety, especially those products that include body-worn cams and digital evidence management. The firm’s premier merchandise is the TASER electroshock weapon, which is employed by the police force. Axon’s products are interconnected with data analysis tools in real-time, encouraging transparency in security solutions. The company has set out to further the welfare of society and professionals’ effectiveness in law enforcement through the use of highly developed technologies and analysis.
Cellebrite DI Ltd.
Cellebrite DI Ltd. offers digital intelligence solutions with a focus on the extraction, analysis, and management of data in electronic devices. The company offers modern techniques for the integration, extraction, analysis, and Reporting of evidence from digital devices such as mobile phones, computers, and cloud services to law enforcement and other security agencies. Its technology assists investigations because it allows researchers to recover relevant information to solve cases or improve cybersecurity. Cellebrite’s objective is to advance the concept of digital innovation and ensure that it offers reliable methods of combating modern threats and dealing with new challenges for agencies.
Palantir Technologies, Inc.
Palantir Technologies Inc. is a software company that focuses on data management and an analytical environment with elements of AI features. The company offers superior platforms that deal with data integration, analysis, and visualization to government, defense, and commercial clients. Palantir’s tool aids organizations in making the right choices by providing robust methods of collecting and analyzing big data in real-time.
DroneUp
DroneUp is a company involved in the development and provision of drones, with special emphasis on aerial data acquisition, logistics, and security services. The company provides a range of services for operation, management of fleets, data analysis, and flight support. DroneUp services include logistics, infrastructure, and emergency service industries where drone technologies offer optimized solutions for activities and decision-making processes.
Airborne Response
Airborne Response is a British company specializing in the usage of drones for emergency response, public safety, corporate, energy, infrastructure and construction, insurance, security, and surveillance purposes. The company operates the business of providing modern drones for aerial data acquisition, surveillance, and emergency management. Products provided are aerial photography, mapping, and monitoring, used for tactical and strategic planning and management in emergencies. By specifically focusing on innovative drones, Airborne Response helps to improve the activity of emergency services as well as offer other industries solutions for managing and planning for different difficulties.
Details on Company Management
- Daniyel Erdberg – Founder, Chairman of the Board and Chief Executive Officer
- Theresa Carlise – Chief Financial Officer, Treasurer and Assistant Secretary
- Pravin Borkar – Chief Technology Officer, Director, and Founder of Safe-Pro USA LLC.
- Christopher Todd – President and Founder of Airborne Response Corp.
- Jonathan Leinwand, Esq. – General Counsel and Secretary
- Arthur T Dean – Director
- John E. Miller – Director
- Lee Van Arsdale – Director
Manager/ Joint Manager of Safe Pro Group, Inc.
Dawson James Securities
Dawson James Securities is a financial services company that offers investment banking, brokerage, and consulting. Equity offerings, M&A, and corporate finance are the company’s key focuses, and it specializes in emerging growth and small-cap clients. Dawson James Securities is involved in research and trading for its clients, providing them with key information as well as recommendations. These principles of service and specialization are intended to ensure that the firm helps clients with their financial needs and assists their pursuits of growth and success in the capital markets.
Conclusion
Safe Pro Group Inc.’s IPO aims to fund growth in the safety and security sector. By raising $6 million, the company plans to expand its drone, AI, and ballistic protection capabilities. Investors should consider the company’s innovative potential against current financial challenges. Future growth and operational improvements are crucial for long-term success.
