Ageagle Aerial Systems Inc

NYSE American:UAVSUnited States

WICHITA, Kan., Nov. 04, 2024 (GLOBE NEWSWIRE) -- https://www.globenewswire.com/Tracker?data=BmmBC-4FWrN9kYZGLGMCQD9LaWIjsjxCW1XSCT5QlzE9dZMm9udZ-BajlCmg2ysL6HDg0PCz1Jp2QWVfa2pWe8T4lecoYgDRd7yHlVJg5Lw= AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, announces that on October 30, 2024, the Company received written notice (the "Notice") from the NYSE American LLC (the "NYSE American") stating that it is not in compliance with the continued listing standards set forth in (i) Section 801(h) of the NYSE American Company Guide (the "Company Guide") because the Company's Board of Directors (the "Board") is not comprised of at least 50% independent directors (the "Board Composition Requirement") and (ii) Section 803B(2)(c) of the Company Guide because the Company's Audit Committee (the "Audit Committee") is not comprised of at least two independent members ("Audit Committee Composition Requirement"). The Notice stated that the Company will have until the earlier of its next annual meeting or one year from the date of its noncompliance with the Board Composition Requirement to appoint at least one additional independent director to the Board; provided, however, that if the annual shareholders meeting occurs no later than 180 days following the event that caused the noncompliance, the Company shall instead have 180 days from such event to regain compliance with the Board Composition Requirement. The Notice also stated that the Company will have until the earlier of its next annual meeting or one year from the date of its noncompliance with the Audit Committee Composition Requirement to appoint at least one additional independent member to the Audit Committee; provided, however, that if the annual shareholders meeting occurs no later than 75 days following the event that caused the noncompliance, the Company shall instead have 75 days from such event to regain compliance with the Audit Committee Composition Requirement.

Ondas Holdings Inc. (NASDAQ:ONDS), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, recently announced that its wholly-owned subsidiary Ondas Autonomous Systems Inc. ("OAS") has entered into an investment agreement with a private investor group, including Charles & Potomac Capital, LLC ("Charles & Potomac") and Privet Ventures LLC ("Privet Ventures"), for an investment of $3.5 million in convertible notes of OAS. The investment in OAS will support OAS' business expansion plan and deliver on the substantial growth opportunity in the defense, security, and critical infrastructure and industrial markets targeted by OAS' Optimus and Iron Drone autonomous drone platforms.

WICHITA, Kan., Oct. 30, 2024 (GLOBE NEWSWIRE) -- https://www.globenewswire.com/Tracker?data=hTVc4a2xATsMdb1B7O_KRCUCeAsjKSxA3LKkeqedvpyetyuTvi3CDLMtIhe0XoqgWHRmC0SefH9rHu0X4at6CY2aASMryNS4ddOVSyF-zr0= AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, announces the appointment of Kevin Lowdermilk to the Company's board of directors effective October 25, 2024.