Unusual Machines prices IPO at $4.00/share, raises $5M gross proceeds

Unusual Machines, Inc.

IPO of 1,250,000 shares at $4.00/share; gross proceeds of $5.0M.
Net proceeds approximately $3.725M after underwriting discounts and expenses.
Proceeds to fund cash portion of Fat Shark and Rotor Riot acquisitions plus working capital.
Underwriters' over-allotment option for additional 187,500 shares at $4.00/share (45 days).
Shares began trading on NYSE American on Feb 14, 2024 under ticker UMAC.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Unusual Machines, Inc. entered into Underwriting Agreement with Dominari Securities LLC valued at $5,000,000 (effective 2024-02-13).

Action: entry
Agreement: underwriting
Counterparty: Dominari Securities LLC
Value: $5,000,000
Effective: 2024-02-13

Exact text from the filing

On February 13, 2024, Unusual Machines, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Dominari Securities LLC (“Dominari”) to serve as the managing underwriter relating to the Company’s initial public offering of 1,250,000 shares (the “Shares”) of the Company’s common stock, $0.01 par value per share (“Common Stock”), and up to an additional 187,500 Shares potentially issuable upon exercise of the underwriter’s over-allotment option of at a public offering price of $4.00 per share.

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Unusual Machines, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-001045

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