SCHEDULE: CVI Investments Maintains 9.9% Stake in Draganfly Inc.
Beneficial Ownership Disclosure
CVI Investments, managed by Heights Capital Management, Inc., has filed an amended Schedule 13G, confirming its beneficial ownership of 9.9% of Draganfly Inc.'s common shares.
Summary
- CVI Investments, Inc. and Heights Capital Management, Inc. (as investment manager) collectively report beneficial ownership of 2,075,918 common shares of Draganfly Inc.
- This ownership represents 9.9% of Draganfly Inc.'s outstanding common shares.
- The shares beneficially owned consist of shares issuable upon the exercise of warrants.
- Warrants are not exercisable to the extent that beneficial ownership would exceed 9.99%.
- Draganfly Inc. had 18,704,039 shares outstanding as of July 18, 2025, following a previous offering.
Sentiment
Score: 5
Explanation: The filing is a neutral, factual disclosure of beneficial ownership, providing no new positive or negative operational information about the issuer.
Positives
- A significant institutional investor, CVI Investments, Inc., maintains a substantial stake in Draganfly Inc., indicating continued interest.
- The filing clarifies the beneficial ownership structure, providing transparency to the market.
Negatives
- The filing does not provide new operational or financial performance updates for Draganfly Inc., limiting immediate positive catalysts.
Risks
- The beneficial ownership is primarily through warrants, which introduces a potential dilution risk upon exercise, although capped at 9.99%.
- The 9.99% beneficial ownership cap on warrant exercise could limit CVI Investments' ability to increase its stake beyond this threshold without further disclosures or agreements.
Future Outlook
The filing does not contain any forward-looking statements or guidance from Draganfly Inc. or the reporting persons regarding the company's future performance or strategic direction.
Industry Context
This filing is a standard disclosure of institutional ownership and does not provide specific insights into Draganfly Inc.'s operational performance or its position within the drone technology industry. It primarily reflects an investor's continued stake.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional holder's stake, which can influence market perception and liquidity.
Key Dates
| Date | Description |
|---|---|
| 2023-06-30 | Date of Draganfly Inc.'s Short Form Base Shelf Prospectus. |
| 2025-07-18 | Date of Prospectus Supplement, indicating 18,704,039 shares outstanding after an offering. |
| 2025-09-30 | Date of event which required the filing of this statement. |
| 2025-11-06 | Date of filing of this Schedule 13G Amendment No. 2. |
Keywords
Draganfly Inc., CVI Investments, Heights Capital Management, Schedule 13G, Beneficial Ownership, Common Shares, Warrants, Drone Technology, Investment Management
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