Swarmer, which develops autonomous drone operating software for military applications, announced terms for its IPO on Thursday.
The Austin, TX-based company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Swarmer would command a fully diluted market value of $117 million.
Swarmer develops autonomous software that enables military forces to deploy, manage, and coordinate large-scale drone swarms. Its core product, the Trident Embedded Drone Operating System (Trident OS), serves as a software layer integrated into drones to support varying levels of autonomy based on mission requirements. The platform has been deployed in active combat environments since 2023, supporting extensive operational use. The company positions itself as a software-focused provider within the defense drone ecosystem, aiming to capture value as hardware manufacturing becomes increasingly fragmented and software capabilities play a larger role in swarm-based operations.
Swarmer was founded in 2023 and plans to list on the Nasdaq under the symbol SWMR. Lucid Capital Markets is the sole bookrunner on the deal.
