Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

Unusual Machines Plans to Sell 1.5 Million Shares in IPO


Unusual Machines, a Puerto Rico-based company, has announced that it will be increasing the number of shares in its initial public offering (IPO) from 1 million to 1.5 million. According to a regulatory filing made on Monday, the shares will be priced between $4 and $6, resulting in expected gross proceeds of $7.5 million at the midpoint price.

Acquisition of Red Cat Holdings’ Consumer Division

The company intends to utilize a portion of the funds raised from the IPO to finance its acquisition of Red Cat Holdings’ consumer division. The acquisition, which was announced last year, will involve Unusual Machines paying $18 million in cash and securities. This strategic move will enable them to expand their portfolio with recreational and hobbyist drones, as well as first-person-view goggles units.

Allocation of Funds

Out of the total proceeds raised, Unusual Machines plans to allocate $2 million towards completing the transaction. Additionally, $3.89 million will be utilized for working capital and general corporate purposes.


Maxim Group LLC and Dominari Securities have been appointed as the underwriters for the offering.

Flooding in Juneau Destroyed Buildings and Forced Evacuations

Previous article

Tech Trader Review

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News