Swarmer said late Monday it has priced its initial public offering of 3 million shares at $5 per share.

Swarmer said it has granted its underwriter, Lucid Capital Markets, a 30-day option to purchase up to an additional 450,000 shares.

The drone autonomy software company said it plans to use the net proceeds for operations, working capital and general corporate purposes. It expects to close the offering March 18.

The shares are expected to begin trading on Nasdaq March 17 under the "SWMR" symbol.