Drone firm Unusual Machines drops after launching stock offering

Unusual Machines

19/03/2026 21:46

** Drone components manufacturer Unusual Machines UMAC.A shares down 5.4% in extended trading to $17.61 as it seeks equity raise

** Orlando, Florida-headquartered firm commences stock offering

** It intends to use net offering proceeds to expand its U.S. drone parts inventory and for working capital and general corporate purposes

** Dominari Securities and JonesTrading are co-placement agent for "best-efforts" offering

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

** UMAC shares on Thurs ended down 7.5% at $18.60, trimming YTD gain to 46%

** 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

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

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