Swarmer Inc (NASDAQ: SWMR) announced it has closed its initial public offering of 3,450,000 shares of common stock at $5.00 per share. The drone autonomy software company said underwriters exercised their full option to purchase an additional 450,000 shares.

The Austin-based company received net proceeds of approximately $14.7 million after deducting underwriter fees and offering expenses. Swarmer stated it plans to use the funds for ongoing operations, capability expansion, hiring, hardware integration with drone manufacturers, and general corporate purposes.

The company's shares began trading on the Nasdaq Capital Market under ticker symbol SWMR. Lucid Capital Markets served as sole bookrunner for the offering.

Swarmer develops vendor-agnostic defense technology focusing on autonomous swarm coordination and unmanned systems integration. The company said its software has been deployed in combat operations in Ukraine since April 2024 and has completed more than 100,000 missions.

The company's primary customers are drone manufacturers who license Swarmer's software for integration with their hardware platforms. Swarmer maintains operations in Ukraine, Poland, and Estonia in addition to its Texas headquarters.

The registration statement for the offering became effective on March 16, 2026, according to the company's announcement based on a press release.