Unusual Machines Announces Closing of $5,000,000 Initial Public Offering

SAN JUAN, Puerto Rico, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Unusual Machines, Inc. (“Unusual Machines” or the “Company”), an emerging leader in first-person view (FPV) drone technology, announced today the closing of its initial public offering (the “Offering”) of 1,250,000 shares of common stock at a public offering price of $4.00 per share. The shares began trading on the NYSE American on February 14, 2024, under the ticker symbol “UMAC”.

The Company expects to receive aggregate gross proceeds of $5.0 million from the Offering, before deducting underwriting discounts and other related expenses. The Company has granted the underwriters a 45-day option to purchase up to an additional 187,500 common shares at the public offering price (the “Over-allotment Option”), less underwriting discounts.

The Offering was conducted on a firm commitment basis. Dominari Securities LLC, Revere Securities LLC, and R.F. Lafferty & Co., Inc. (the “Underwriters”) acted as the Underwriters for the Offering. Nason, Yeager, Gerson, Harris & Fumero, P.A. acted as U.S. counsel to the Company and Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to the Underwriters in connection with the Offering.

A registration statement on Form S-1 relating to the Offering has been filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-270519) and was declared effective by the SEC on February 13, 2024. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, may be obtained from Dominari Securities LLC by email at [e-mail], by standard mail to Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor New York, NY 10022, or by telephone at [phone]; or from Revere Securities LLC by email at [e-mail], by standard mail to Revere Securities LLC, 650 Fifth Avenue, 35th Floor, New York, NY 10019 USA, or by telephone at [phone]; or from R.F. Lafferty & Co., Inc. by email at [e-mail], by standard mail to R.F. Lafferty & Co., Inc., 40 Wall Street, 29th Floor, New York, NY 10005 USA, or by telephone at [phone]. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.