Swarmer Inc. (NASDAQ:SWMR) shares are trending on Tuesday night.

SWMR climbed 44.19% to $44.70 in after-hours trading on Tuesday. The surge in the late trading session follows a 520% intraday gain.

On Tuesday, Swarmer began trading on the Nasdaq Capital Market under the ticker symbol “SWMR.”

IPO Details

After the market closed on Monday, Swarmer announced it priced its initial public offering at $5 per share for 3 million shares, raising about $15 million in gross proceeds before underwriting discounts, commissions and other expenses.

New York-based Lucid Capital Markets, LLC acted as the sole bookrunner for the offering.

According to the company’s press release, Swarmer has granted the underwriter a 30-day option to purchase up to an additional 450,000 shares at the public offering price.

The Austin-based defense technology company said it intends to use the net proceeds to fund operations, expand capabilities and product offerings, hire employees, integrate with drone manufacturer hardware and for working capital and other general corporate purposes.

Company Operations

Swarmer specializes in vendor-agnostic technologies supporting operations in Ukraine. The company said its technology has been validated in real-world combat environments and was first deployed in Ukraine in April 2024. Since then, it has completed more than 100,000 missions.

Swarmer's primary mission areas include autonomous swarm coordination, multi-domain unmanned systems integration and AI-powered collaborative autonomy, addressing critical operational challenges for modern military forces.

Trading Metrics

Swarmer has a market capitalization of $382.806 million.

The small-cap stock closed on Tuesday at $31, according to Benzinga Pro data.

Benzinga’s Edge Stock Rankings indicate that SWMR has a negative price trend across all time frames.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.