Welcome to our dedicated page for Unusual Machines news (Ticker: UMAC), a resource for investors and traders seeking the latest updates and insights on Unusual Machines stock.
Unusual Machines, Inc. (UMAC) specializes in innovative U.S.-manufactured drone components and systems, serving both consumer and defense markets with NDAA-compliant solutions. This news hub provides investors and industry professionals with timely updates on corporate developments, product innovations, and strategic milestones.
Access comprehensive coverage of UMAC's press releases, financial announcements, and operational updates. Track key initiatives including advanced manufacturing processes, government certifications, and market expansion efforts across the drone technology sector.
Explore updates on product launches, regulatory compliance achievements, and partnership announcements. This resource serves as a centralized reference for understanding UMAC's position in the evolving aerospace and defense technology landscape.
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Unusual Machines (NYSE American: UMAC) issued a shareholder letter addressing potential short-seller attacks during the holiday season. The company highlighted its commitment to transparency through proactive auditor changes post-IPO, simplified corporate structure, and regular shareholder communications. In its first year, UMAC grew from 2 to 15 employees, completed its IPO, acquired Rotor Riot and Fat Shark, and launched the Brave F7 Flight Controller - its first U.S.-made product, which earned Department of Defense Blue UAS Framework listing. The CEO emphasized the company's long-term focus on building U.S. drone technology and strengthening supply chains. To combat short selling, shareholders are advised to hold shares in cash accounts, opt out of securities lending programs, or transfer shares to the company's transfer agent.
Unusual Machines (NYSE American: UMAC) announced that Donald Trump Jr. has joined the company's advisory board. As a business leader, best-selling author, and investor in the company, Trump Jr. will provide expertise to support the company's mission of bringing drone component manufacturing back to America. The announcement follows the recent release of their Brave F7 FPV Flight Controller, demonstrating the company's commitment to reducing reliance on foreign-made drone components and strengthening domestic supply chains.
Unusual Machines (NYSE:UMAC) reported Q3 2024 financial results, with sales reaching $1.53 million, marking a 9% quarter-over-quarter increase with a 26% gross margin. Year-to-date sales total $3.56M, on track to meet the 2024 target of $5M. The company received approval for its Brave 7 flight controller on the Blue UAS Framework, securing orders for nearly 7,000 units and shipping over 1,000 units monthly. A subsequent private placement in October raised $1.955M with net proceeds of $1.733M. The quarter ended with $1.69M in cash, while reporting a net loss of $2.1 million or $0.30 per share.
Unusual Machines (NYSE American: UMAC), a leading American drone company, has scheduled its Q3 2024 earnings conference call for Thursday, November 14, 2024, at 4:30 p.m. ET. The call will cover operational and financial results for the quarter ended September 30, 2024. Management will present prepared remarks followed by a Q&A session. A webcast replay will be available for three months through the company's Investor Relations website for those unable to attend the live event.
Unusual Machines (NYSE American: UMAC) has closed a $1.95 million private placement with institutional investors. The company issued 1,286,184 units at $1.52 per unit, with each unit comprising one common stock share and one warrant exercisable at $1.99 per share. The warrants become exercisable after 180 days and have a 5.5-year term. Company insiders, including CEO Allan Evans and two board members, invested $250,000 in the placement. The proceeds will be used for general corporate purposes and working capital. Dominari Securities acted as the exclusive placement agent.
Unusual Machines (NYSE American: UMAC) has announced a $1.96 million private placement with institutional investors. The company will issue 1,286,300 units at $1.52 per unit, with each unit comprising one common stock share and one warrant exercisable at $1.99 per share. The warrants will be exercisable 180 days after closing and have a 5-year term. Company insiders, including CEO Allan Evans and board members, will invest $250,000 on identical terms. The proceeds will be used for general corporate purposes and working capital. The placement is expected to close on October 30, 2024.
Unusual Machines (NYSE American: UMAC), a drone and drone components manufacturer, has announced its participation in three investor conferences in October 2024:
1. LIVE! With Webull Corporate Connect: Technology Investment Webinar on October 16 at 2:40 p.m. ET
2. The 2024 LD Micro Main Event XVII on October 29 at 9:30 a.m. PT (12:30 p.m. ET) at the Luxe Sunset Boulevard Hotel, Los Angeles
3. ThinkEquity Conference on October 30 at 12:30 p.m. ET at the Mandarin Oriental, New York City
CEO Allan Evans and executive team members will be available for one-on-one meetings with investors at the in-person conferences. Live webcasts will be available for some presentations.
Unusual Machines (NYSE American: UMAC), a drone and drone components manufacturer, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event will take place from September 9th-11th, 2024 at the Lotte New York Palace Hotel in New York City.
Key points:
- The company will present virtually and participate in one-on-one investor meetings
- Unusual Machines' corporate presentation will be available on-demand starting September 9th at 7:00 am (ET)
- Management plans to discuss recent developments, including details about the launch of their first Blue UAS framework component
- Investors can schedule 1x1 meetings with management by contacting investors@unusualmachines.com or their H.C. Wainwright representative
Unusual Machines (NYSE American: UMAC) reports over 6,700 Rotor Riot Brave F7 Flight Controllers ordered since its Blue UAS Framework approval on August 7, 2024. The Brave F7 is the first FPV-specific flight controller on the Blue UAS list, positioning UMAC as a provider to the U.S. Department of Defense and commercial customers seeking alternatives to components from restricted regions or China.
CEO Allan Evans noted the surprising customer demand, while COO Drew Camden highlighted the growing interest in American-made drone technology. The company aims to bring more drone manufacturing to the U.S. and strengthen domestic supply chains, focusing on developing dual-use products for the American drone industry.
Unusual Machines (NYSE American: UMAC), an American drone manufacturer, has entered into two exchange agreements to restructure $1.0 million of its $4.0 million debt. The company will issue:
- New convertible notes totaling $3.0 million
- Series C preferred stock convertible at $1.59 per share
- Five-year warrants exercisable at $1.99 per share
The new notes feature an optional conversion to Series C preferred stock at $1.99 per share and a reduced interest rate from 8% to 4%. Ownership limitations and registration rights are included. CFO Brian Hoff stated that this deal strengthens the company's balance sheet while maintaining shareholder value.
