UAV Corp. (UMAV) Further Reduces Authorized Shares to 500 Million
UAV Corp. (UMAV) has announced a further reduction in its authorized share count from 800 million to 500 million shares, following a previous decrease from 2 billion to 800 million shares in December 2024. This strategic move aims to optimize the company's capital structure and enhance shareholder value.
Additionally, UMAV has secured a Letter of Intent (LOI) for up to $20 million in funding. The funding partner will complete the DART SA70-12 airship project, help retire outstanding debt, and receive one board seat. The company has 30 days to negotiate final terms.
The company's recent developments include a joint venture with Atlantic Industrial Group Inc. (AIG) to establish manufacturing capabilities at Skyborne Technology's Florida facility, focusing on high-efficiency drone production and utilizing 3D printing for airframe components.
UAV Corp. (UMAV) ha annunciato una ulteriore riduzione del numero di azioni autorizzate da 800 milioni a 500 milioni di azioni, dopo una precedente diminuzione da 2 miliardi a 800 milioni di azioni nel dicembre 2024. Questa mossa strategica mira a ottimizzare la struttura del capitale dell'azienda e aumentare il valore per gli azionisti.
Inoltre, UMAV ha ottenuto una Lettera di Intenti (LOI) per un finanziamento fino a 20 milioni di dollari. Il partner finanziario completerà il progetto dell’aria DART SA70-12, aiuterà a estinguere debiti in sospeso e riceverà un posto nel consiglio. L'azienda ha 30 giorni per negoziare i termini finali.
Tra gli sviluppi recenti dell’azienda c'è una joint venture con Atlantic Industrial Group Inc. (AIG) per stabilire capacità produttive presso lo stabilimento della Skyborne Technology in Florida, concentrandosi sulla produzione di droni ad alta efficienza e utilizzando la stampa 3D per i componenti della fusoliera.
UAV Corp. (UMAV) ha anunciado una nueva reducción en su número de acciones autorizadas de 800 millones a 500 millones de acciones, tras una disminución previa de 2 mil millones a 800 millones de acciones en diciembre de 2024. Este movimiento estratégico tiene como objetivo optimizar la estructura de capital de la empresa y aumentar el valor para los accionistas.
Además, UMAV ha asegurado una Carta de Intención (LOI) por hasta 20 millones de dólares en financiamiento. El socio financiero completará el proyecto del dirigible DART SA70-12, ayudará a retirar deudas pendientes y recibirá un asiento en la junta. La empresa tiene 30 días para negociar los términos finales.
Los desarrollos recientes de la empresa incluyen una empresa conjunta con Atlantic Industrial Group Inc. (AIG) para establecer capacidades de fabricación en las instalaciones de Skyborne Technology en Florida, enfocándose en la producción de drones de alta eficiencia y utilizando impresión 3D para los componentes de la estructura.
UAV Corp. (UMAV)는 승인된 주식 수를 8억 주에서 5억 주로 추가로 줄이겠다고 발표했습니다. 이는 2024년 12월 20억 주에서 8억 주로 줄인 것에 이은 것입니다. 이 전략적인 조치는 회사의 자본 구조를 최적화하고 주주 가치를 향상시키기 위한 것입니다.
또한 UMAV는 최대 2천만 달러의 자금을 확보한 의향서(LOI)를 받았습니다. 자금 파트너는 DART SA70-12 비행선 프로젝트를 완성하고, 남아 있는 부채를 상환하며 이사회에 한 자리의 대표가 됩니다. 회사는 최종 조건을 협상할 30일의 시간을 가지고 있습니다.
회사의 최근 발전 사항에는 Atlantic Industrial Group Inc. (AIG)와의 합작 투자로 플로리다의 Skyborne Technology 시설에서 생산 능력을 구축하여 고효율 드론 생산에 집중하고, 동체 구성 요소를 위한 3D 인쇄를 이용하는 것이 포함됩니다.
UAV Corp. (UMAV) a annoncé une nouvelle réduction de son nombre d'actions autorisées, passant de 800 millions à 500 millions d'actions, après une précédente réduction de 2 milliards à 800 millions d'actions en décembre 2024. Cette mesure stratégique vise à optimiser la structure de capital de l'entreprise et à accroître la valeur pour les actionnaires.
De plus, UMAV a sécurisé une Lettre d'Intention (LOI) pour un financement allant jusqu'à 20 millions de dollars. Le partenaire financier complétera le projet de dirigeable DART SA70-12, aidera à rembourser les dettes en cours et recevra un siège au conseil d'administration. L'entreprise dispose de 30 jours pour négocier les conditions finales.
Les récents développements de l'entreprise incluent une coentreprise avec Atlantic Industrial Group Inc. (AIG) pour établir des capacités de fabrication dans les installations de Skyborne Technology en Floride, en se concentrant sur la production de drones à haute efficacité et en utilisant l'impression 3D pour les composants de la structure.
UAV Corp. (UMAV) hat eine weitere Reduzierung der genehmigten Aktienanzahl von 800 Millionen auf 500 Millionen Aktien bekannt gegeben, nach einer vorherigen Verringerung von 2 Milliarden auf 800 Millionen Aktien im Dezember 2024. Diese strategische Maßnahme zielt darauf ab, die Kapitalstruktur des Unternehmens zu optimieren und den Aktionärswert zu steigern.
Darüber hinaus hat UMAV eine Absichtserklärung (LOI) über bis zu 20 Millionen Dollar für Finanzierungen gesichert. Der Finanzierungspartner wird das DART SA70-12 Luftschiffprojekt abschließen, bei der Tilgung ausstehender Schulden helfen und einen Sitz im Vorstand erhalten. Das Unternehmen hat 30 Tage Zeit, um die endgültigen Bedingungen auszuhandeln.
Die aktuellen Entwicklungen des Unternehmens umfassen ein Joint Venture mit Atlantic Industrial Group Inc. (AIG), um Produktionskapazitäten in der Florida-Anlage von Skyborne Technology aufzubauen, wobei der Fokus auf der Herstellung hocheffizienter Drohnen liegt und 3D-Druck für die Komponenten des Flugkörpers genutzt wird.
- Secured LOI for $20 million funding commitment
- Further reduction of authorized shares by 300 million, improving capital structure
- Funding partner to complete DART SA70-12 airship project
- Funding will help retire outstanding debt
- Outstanding debt on balance sheet requires retirement
- Dilution of board control with new funding partner seat
Company Secures
WEWAHITCHKA-PORT ST JOE, Fla., Jan. 08, 2025 (GLOBE NEWSWIRE) -- UAV Corp. (OTC: UMAV), a leader in innovative manned and unmanned aerial vehicle (UAV) technologies, is pleased to announce an additional reduction in its authorized share count. Building upon the strategic reduction announced on December 16, 2024, the Company’s Board of Directors has approved a further decrease of 300 million authorized shares, lowering the total from 800 million to 500 million.
This decision comes in response to shareholder support for the Company’s previous reduction, which saw a decrease of 1.2 billion shares, reducing the authorized share count from 2 billion to 800 million. The latest adjustment demonstrates UAV Corp.’s ongoing commitment to optimizing its capital structure and delivering long-term value to its shareholders.
“After seeing the appreciation from our shareholders regarding the initial reduction, we felt it was imperative to continue taking steps to enhance shareholder value,” said Michael Lawson, CEO of UAV Corp. “This further reduction reflects our dedication to disciplined financial management and our confidence in the Company’s long-term growth trajectory. We remain focused on operational excellence and innovative solutions to drive profitability.”
The new authorized share count will be reflected in the Company’s amended articles of incorporation and relevant corporate filings. This adjustment aligns with UAV Corp.’s strategic efforts to streamline operations, enhance corporate governance, and position the Company for sustained growth.
In addition to these significant capital structure improvements, UAV Corp. has signed a Letter of Intent (LOI) for up to
In its December 2024 announcement, the Company highlighted significant milestones, including its joint venture with Atlantic Industrial Group Inc. (AIG) to establish state-of-the-art manufacturing capabilities at Skyborne Technology’s Wewahitchka, Florida facility. The facility focuses on producing high-efficiency drone models, including SVTOLs, and leveraging advanced 3D printing technologies for lightweight airframe components.
By continuing to optimize its capital structure, UAV Corp. demonstrates its unwavering focus on innovation, efficiency, and delivering shareholder value.
About UAV Corp./Skyborne Technology, Inc.
UAV Corp. is a premier developer of manned and unmanned aerial vehicle technology. With decades of experience specializing in highly maneuverable lighter-than-air technologies for commercial and government solutions, UAV Corp. focuses on innovation and reliability. It provides cutting-edge platforms that enhance operational capabilities across various sectors. For more information about UMAV Corp. and its innovative technologies, please visit www.uavcorp.net.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable U.S. securities legislation. Forward-looking statements are based on estimates and assumptions that, while considered reasonable, are subject to risks, uncertainties, and other factors which may cause actual results to differ materially. The Company disclaims any intention or obligation to update forward-looking statements, except as required by law.
Contact:
Michael Lawson, CEO
mlawson@uavcorp.net
115 County Road 381
Wewahitchka, Florida 32465
FAQ
What is the new authorized share count for UAV Corp (UMAV) after the January 2024 reduction?
How much funding did UAV Corp (UMAV) secure in their latest LOI agreement?
What will the $20 million funding be used for by UAV Corp (UMAV)?
What is UAV Corp's (UMAV) recent joint venture partnership?
How many authorized shares has UMAV reduced since December 2024?
