Erik Prince Files for IPO with Battle-Tested AI Drone Company Swarmer

By Jarrett Banks

Erik Prince, the founder of private security company Blackwater USA, intends to take drone autonomy software company Swarmer Inc. public, according to a S-1 filing.

Swarmer, which has been supporting operations in Ukraine, intends to list on Nasdaq under the ticker “SWMR.” Swarmer’s platform has been deployed in more than 100,000 real-world missions in active combat environments, the filing said.

“Advances in artificial intelligence, autonomous systems and low-cost unmanned platforms are reshaping how modern conflicts are fought, shifting the center of gravity from hardware alone to the intelligence, coordination and software that enable systems to operate effectively at scale,” Mr. Prince, who will serve as non-Executive Chairman of Swarmer, said in the filing.

Lucid Capital Markets is acting as the sole underwriter of this offer, according to the filing.