AgEagle Aerial Systems Closes Merger With EnerJex | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-07.14.25

Airborne-NextGen-07.15.25

AirborneUnlimited-07.16.25

Airborne-FlightTraining-07.17.25

AirborneUnlimited-07.11.25

Wed, Mar 28, 2018

AgEagle Aerial Systems Closes Merger With EnerJex

Will Begin Trading On NYSE As UAVS

AgEagle Aerial Systems, an aerial drone imagery collection and analytics company, has closed its merger transaction with EnerJex Resources, pursuant to which AgEagle becomes a wholly-owned subsidiary of EnerJex Resources, Inc.

EnerJex will be renamed AgEagle Aerial Systems and will begin trading on March 27th on NYSE American under the ticker symbol UAVS. In addition, on March 26, 2018, the company closed a private placement of its shares of Series C Convertible Preferred Stock to institutional investors raising gross proceeds of $4,000,000.

“The completion of this merger and subsequent financing is a significant milestone for our company,” commented Bret Chilcott, founder and CEO of AgEagle. “We can now aggressively execute on our vision of becoming a leading drone and data analytics company in PrecisionAg, while generating meaningful value for our shareholders. We plan to invest and grow the data analytics division of our business to provide farmers with actionable insights to help them generate healthier crops more efficiently.

AgEagle’s line of automated flying drones collect valuable information for farmers by flying over large fields of corn, soybeans, wheat and other types of crops, collecting thousands of ultra-high-resolution pictures using sophisticated near-infrared sensors (cameras). The images can be loaded to the cloud midflight through cellular connectivity and stitched together to form one large, near-infrared, aerial view. Unlike the human eye, algorithmic-based computer programs are able to determine the current health of the photographed crop by analyzing the amount of near-infrared light reflected from the plants. Healthy plants reflect more near-infrared light while unhealthy plants absorb the light. Using this high resolution, near-infrared image, a farmer or an agronomist is able to create a ‘prescription map’ that is then fed into the computers that guide large precision crop sprayers. As a result, chemicals, herbicides, pesticides and nutrients can be applied more precisely in the fields - saving money, increasing the amount of yield per acre, and improving the environmental impact of farming.

AgEagle’s board of directors includes company founder and CEO Bret Chilcott, a representative from stakeholder Raven Industries, Tom Gardner, a data analytics expert, and Grant Begley, formerly the senior advisor to the Undersecretary of Defense for drones and corporate leader to Lockheed Martin and Raytheon for their respective drone initiatives.  

Following the completion of the merger and one for twenty-five reverse stock-split, there are now 9,886,305 million shares of common stock outstanding.

Details of the merger transaction, private placement and further information about AgEagle will be provided in a Current Report on Form 8-K filed with the SEC.

(Source: AgEagle news release)

FMI: www.ageagle.com

Advertisement

More News

ANN's Daily Aero-Term (07.15.25): Charted Visual Flight Procedure Approach

Charted Visual Flight Procedure Approach An approach conducted while operating on an instrument flight rules (IFR) flight plan which authorizes the pilot of an aircraft to proceed >[...]

Aero-News: Quote of the Day (07.15.25)

“When l became the Secretary of Defense, I committed to rebuild our military to match threats to capabilities. Drones are the biggest battlefield innovation in a generation, >[...]

ANN's Daily Aero-Linx (07.15.25)

Aero Linx: Stearman Restorers Association Welcome to the Stearman Restorers Association. The Stearman Restorers Association is an independent “Not for Profit” 501C-3 Co>[...]

NTSB Final Report: Kjelsrud Gary Kitfox

Airplane Exhibited A Partial Loss Of Engine Power When It Was About Halfway Down The Runway Analysis: The pilot of the experimental amateur-built airplane was departing from his pr>[...]

NTSB Prelim: Cessna A150L

The Flight Path Was Consistent With Low-Altitude Maneuvering On June 18, 2025, about 0922 mountain standard time, a Cessna A150L airplane, N6436F, was substantially damaged when it>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC