Drone firm Unusual Machines descends on $150 mln stock deal

Unusual Machines

20/03/2026 13:22

** Drone components manufacturer Unusual Machines UMAC.A shares down 10% at $16.75 premarket after $150 mln follow-on offering prices

** Orlando, Florida-headquartered firm sells ~8.8 mln shares at $17, an 8.6% discount to stock's last sale on Thurs

** Co says participation in offering includes investment from autonomous drone and wireless tech provider Ondas ONDS.O

** UMAC intends to use net offering proceeds to acquire additional inventory, and for working capital and general corporate purposes

** Dominari Securities and Jones Trading are co-placement agents for offering

** Co has ~39 mln shares outstanding for ~$725 mln market cap, per the prospectus

** Through Thurs close, UMAC shares up 46% YTD

** Last week, UMAC was among investors in a private placement in connection with plans to take drone tech firm Powerus public after reverse merger with Trump-sons-backed Aureus Greenway AGH.O

** All 4 analysts covering UMAC rate the stock "buy"; median PT $23, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))