Unusual Machines Announces Pricing Of $5M Initial Public Offering Of 1.25M Shares Of Common Stock At A Price Of $4/Share
Portfolio Pulse from Benzinga Newsdesk
Unusual Machines, Inc., a leader in FPV drone technology, announced its IPO pricing at $4 per share for 1.25M shares, aiming to raise $5M. The shares will trade on the NYSE American under the symbol 'UMAC' starting February 14, 2024. The proceeds will fund the Fat Shark and Rotor Riot acquisitions, working capital, and general corporate purposes.
February 14, 2024 | 2:02 pm
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Unusual Machines, Inc. announces IPO pricing at $4/share to raise $5M, with proceeds aimed at acquisitions and growth.
The announcement of Unusual Machines' IPO and its pricing at $4 per share is a significant step for the company, indicating readiness for public trading and a clear use of proceeds for strategic acquisitions and growth. This could attract investor interest, potentially leading to a positive short-term impact on the stock price as the market responds to the new investment opportunity and the company's growth plans.
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