Unusual Machines Announces Pricing of Initial Public Offering

SAN JUAN, Puerto Rico, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Unusual Machines, Inc. (“Unusual Machines” or the “Company”), an emerging leader in first-person view (FPV) drone technology, announced today the pricing 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 are expected to begin 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 is expected to close on or about February 16, 2024, subject to the satisfaction of customary closing conditions.

Proceeds from the Offering will be used to pay the cash portion of the purchase price for the Fat Shark and Rotor Riot acquisitions, working capital, and general corporate purposes.

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, when available, 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.