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Investing.com -- Unusual Machines, Inc. (NYSE American:UMAC) stock fell 18% on Monday after the drone technology company announced a $48.5 million registered direct offering priced significantly below its recent market value.
The offering consists of 5 million shares of common stock (or pre-funded warrants) priced at $9.70 per share, representing a substantial discount to Friday’s closing price of $12.12. This pricing gap appears to be driving the sharp decline in the company’s share value.
Dominari Securities LLC is serving as the exclusive placement agent for the transaction, which is expected to close around July 15, 2025, subject to customary closing conditions.
Unusual Machines, which describes itself as a leader in drone technology and component manufacturing, plans to use the proceeds to support U.S.-based manufacturing expansion, working capital needs, and general corporate purposes.
The shares are being offered through an effective shelf registration statement previously filed with the SEC. A prospectus supplement detailing the offering terms will be filed with the SEC and made available through the regulator’s website.
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