Draganfly rises after $10 mln stock deal with Trump Jr.-backed Unusual Machines, US fund

Unusual Machines

28/09/2026 13:32

** U.S.-listed shares of Canadian drone services firm Draganfly Inc DPRO.O up 4.3% at $5.58 before the bell on Mon after news of $10 mln equity raise
** DPRO says Unusual Machines UMAC.A, which counts Donald Trump Jr. as a member of its advisory board, and an unnamed US investment fund each invested $5 mln in the co
** Registered direct offering of ~1.9 mln shares priced at $5.35, matching stock's last sale on Fri
** DPRO intends to use net offering proceeds to accelerate the development of advanced strategic capabilities and fund general working capital
** Jett Capital Advisors and Northland Capital Markets joint-lead placement agents
** Investment comes as the Trump family's ​investments in several firms have drawn scrutiny amid concerns of potential conflicts of interest, particularly ⁠its stakes in defense firms that regularly compete for ​government contracts
** UMAC shares down 1.5% at $23.68 premarket
** With ~37.15 mln shares outstanding, DPRO has roughly $200 mln market cap
     

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))