Mentioned:
UMAC -18.31% DOMH -4.60%
Unusual Machines is going after the drone supply chain. And now, they’re buying a high performance electric motor manufacturer in Australia.
What’s happening:
- Unusual Machines (NASDAQ: UMAC) has entered into a definitive agreement to acquire Australian based high performance electric motor and propulsion system manufacturer Rotor Lab
By the numbers:
- Unusual Machines will pay a total of $7M USD to purchase Rotor Lab
- $4M USD will be paid to Rotor Lab in common shares of Unusual Machines and an additional $3M USD may be paid upon milestones
Why it matters:
- Rotor Lab manufactures leading edge high performance motors for both commercial drones and combat drones and will become fully integrated into Unusual Machines’ facility in Orlando, Florida following the closing of the acquisition
Going deeper:
- Unusual Machines recently raised $40M USD in a new equity financing round, which was led by Dominari Securities who has been ambitiously funding multiple notable publicly traded technology companies as well as expanding into data centres and high performance computing through their parent company Dominari Holdings (NASDAQ: DOMH)
