Mentioned:
Draganfly has landed a new investor: Unusual Machines.
What’s happening:
- Unusual Machines (NYSE: UMAC) is investing $5M USD in Draganfly (NASDAQ: DPRO) in a new $10M USD equity financing round
By the numbers:
- Draganfly is issuing roughly 1.8M common shares at $5.35 per share as part of the new capital raise
Why it matters:
- This is the first time that Unusual Machines has made a strategic equity investment in Draganfly
Going deeper:
- Draganfly has publicly stated that they are seeing a meaningfully acceleration of their drone business for both commercial and defense applications in North America
- Draganfly had more than $90M USD in total cash as of their last reported quarter
- Unusual Machines has been making a flurry of investments into other publicly traded drone companies lately, including a $30M USD investment in Powerus and a $20M USD investment in XTEND Robotics AI (NYSE: XTND)
