Mentioned:
An American drone company on the New York Stock Exchange has just completed a massive new capital raise. But, why?
What’s happening:
- Unusual Machines (NYSE: UMAC) has successfully raised $150M USD In a new equity financing round
By the numbers:
- Unusual Machines issued approximately 8.8M common shares at $17.00 USD per share as part of the new funding round
Why it matters:
- This is the single largest financing round that Unusual Machines has ever done since becoming a publicly listed company
Going deeper:
- Unusual Machines has publicly stated they plan to use the new growth capital to meaningfully scale up their domestic drone manufacturing business in the United States of America
- Unusual Machines also recently made waves on Wall Street when they invested in a financing round for autonomous drones and robotics company XTEND alongside of Eric Trump as part of their reverse merger deal onto the Nasdaq
