Ukrainian defense startup makes its Nasdaq debut: details
18 March 13:11
On March 17, the Ukrainian defense-tech startup Swarmer held its initial public offering on the Nasdaq Capital Market.
This is reported on the exchange’s website, according to [Komersant].
The company’s shares are traded on Nasdaq under the ticker symbol SWMR.
The company announced the pricing of its initial public offering at $5.00 per share for 3,000,000 shares of common stock.
The company also granted a 30-day option to purchase an additional 450,000 shares at the public offering price, net of underwriting discounts and commissions.
Swarmer listed on the Nasdaq Capital Market, an exchange for companies with a market capitalization of up to $2 billion.
As of the morning of March 18, the company’s shares are trading at $31 per share.
The company was founded in 2023 by Serhii Kuprienko and Alex Fink. It develops an AI-based platform for automated control of drone fleets: the software allows a single operator to control up to 25 drones that operate in coordination as a single system.
The platform’s algorithms are trained on data from over 100,000 combat sorties, enabling the AI to replicate the tactics of experienced operators and operate effectively even under electronic warfare conditions.
Lucid Capital Markets organized the initial public offering (IPO) of the Ukrainian defense startup.
On the first day of trading, Swarmer shares opened at $12.50, which is 150% above the IPO price. The current price during the first day was around $31 (bid 29.02 / ask 32.99). Thus, the increase from the offering price exceeded 500% on the very first day.
In total, over 9 million shares were sold during the day. The price fluctuated between $11.25 and $40, meaning the difference between the day’s low and high reached approximately 255%.
