Defense Tech Newcomer Swarmer Surges As Investors Chase AI Drone Boom

Swarmer, Inc. (NASDAQ: SWMR) has priced its initial public offering (IPO) at $5.00 per share, aiming to raise approximately $15 million by offering 3,000,000 shares, with an additional option for underwriters to purchase 450,000 more shares. The company, which specializes in AI-driven drone technology for military operations, saw its stock surge 37.68% to $42.68 during premarket trading, reaching a new 52-week high. Swarmer's software has been deployed in over 100,000 missions since April 2024, enhancing its AI capabilities and supporting its growth strategy.