The equity distribution was as follows: Cristina Colón, Sanford Rich, and Robert Lowry each received 904 shares and $5,416.67 in cash. Jeffrey Thompson was granted 834 shares along with $5,000 in cash. While the company maintains a healthy current ratio of 2.24, indicating strong short-term liquidity, InvestingPro data shows it currently operates at a loss with -$0.80 earnings per share.
While the company maintains a healthy current ratio of 2.24, indicating strong short-term liquidity, InvestingPro data shows it currently operates at a loss with -$0.80 earnings per share. The transaction took place on Tuesday, January 14, 2025, and is part of the company’s 2022 Equity Incentive Plan.
According to the filing, the directors received both restricted common stock, which is fully vested, and cash payments. The amount of stock issued was based on the market’s closing price on January 14, 2025, when UMAC traded at $13.58. InvestingPro analysis indicates the stock is trading above its Fair Value, with 12 additional exclusive insights available to subscribers. The directors required to sign the company’s standard Restricted Stock Agreement to receive the shares.
The equity distribution was as follows: Cristina Colón, Sanford Rich, and Robert Lowry each received 904 shares and $5,416.67 in cash. Jeffrey Thompson was granted 834 shares along with $5,000 in cash. The issuance of these securities was not registered under the Securities Act, relying instead on an applicable exemption from registration.
This corporate action demonstrates Unusual Machines, Inc.’s ongoing commitment to compensating its board members with a mix of equity and cash, aligning the interests of the directors with those of the shareholders.
In other recent news, XTI Aerospace has announced plans to acquire a 30% equity stake in ReadyMonitor, an AI-driven autonomous Drone-as-a-Service (DaaS) provider. This acquisition, which is expected to close in Q1 2025, is part of XTI’s strategy to integrate unmanned VTOLs with their TriFan 600 aircraft technology. ThinkEquity is acting as the M&A Advisor for the transaction.
Meanwhile, Unusual Machines has issued new shares to accredited investors, effectively eliminating all of its $3.0 million indebtedness. Maxim Group has initiated coverage on Unusual Machines, assigning a Buy rating and setting a price target of $18.00. The company also held its annual meeting, approving key strategic decisions and electing five board members.
Furthermore, Unusual Machines has finalized transactions with Red Cat Holdings, involving a working capital adjustment related to the acquisitions of Rotor Riot and Fat Shark. The parties agreed to a $2.0 million adjustment, increasing the existing note payable from $2.0 million to $4.0 million.
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