Renaissance Capital logo

Unusual Machines Priced, NYSE American: UMAC

Drone technology developer acquiring the consumer operations of Red Cat.

Industry: Technology

Latest Trade: $2.83 0.00 (0.0%)

First Day Return: -24.3%

Return from IPO: -29.3%

Industry: Technology

We are a development stage technology company which intends to acquire Fat Shark and Rotor Riot, from Red Cat pursuant to the Purchase Agreement which will close simultaneously with the closing of this Offering. Fat Shark and Rotor Riot are in the business of developing, producing and selling drone solutions and technology, with an initial focus on first-person view, or FPV, drone technology. Fat Shark is a market leader in FPV, designing and manufacturing ultra-low latency video goggles for drone pilots. Rotor Riot’s principal business is the operation of a drone-focused e-commerce marketplace, backed by one of the largest communities of FPV drone pilots in the world. Over the next two years, these businesses plan to continue to focus on leveraging and growing their market share in the retail purchase of drone products for use in entertainment, recreational and competitive racing purposes, which we refer to as “consumer” uses, in the drone technology market. We also plan to explore a potential expansion into new sub-markets, which we refer to as “enterprise” uses, such as public safety and drone delivery functions, organically and/or through strategic acquisitions. This is part of our vision to enable people to be part of the robotics revolution.
more less
IPO Data
IPO File Date 03/14/2023
Offer Price $4.00
Price Range $4.00 - $6.00
Offer Shares (mm) 1.3
Deal Size ($mm) $5
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 02/13/2024
Offer Price $4.00
Price Range $4.00 - $6.00
Offer Shares (mm) 1.3
Deal Size ($mm) $5
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Dominari Securities
R.F. Lafferty & Co.
more
Company Data
Headquarters San Juan, Puerto Rico
Founded 2019
Employees at IPO 3
Website unusualmachines.com

Unusual Machines (UMAC) Performance