Unusual Machines (UMAC, Financial) has disclosed the details of its public stock offering, setting the price at $5.00 per share for 8,000,000 shares of common stock. The company anticipates generating $40 million in gross proceeds from this initiative, prior to accounting for placement agent fees and other expenses. The offering is slated to conclude around May 6, 2025, pending standard closing conditions.
UMAC plans to allocate the net proceeds from this offering towards the expedited completion of a drone motor facility located in Orlando, Florida. Additionally, funds will be directed towards general corporate purposes, including enhancing working capital. Dominari Securities is serving as the exclusive placement agent for this offering.
