Nason Yeager Gerson Harris & Fumero Represents Unusual Machines, Inc., in Concurrent Closings of Initial Public Offering and Acquisition
Palm Beach Gardens, FL – February 22, 2024 – Nason, Yeager, Gerson, Harris & Fumero, P.A. represented Unusual Machines, Inc. [NYSE American: UMAC] (“Unusual Machines”) in the company’s concurrent closings of its initial public offering and its acquisition of Fat Shark Ltd. (“Fat Shark”) and Rotor Riot, LLC (“Rotor Riot”), subsidiaries of Red Cat Holdings, Inc. [Nasdaq:RCAT] engaged in the development and sale of consumer drones and first-person view goggles.
In Unusual Machine’s initial public offering, the company sold 1,250,000 shares of common stock and raised gross proceeds of $5,000,000, of which $1,000,000 was used for the acquisition of Fat Shark and Rotor Riot. The $17,000,000 of consideration also included convertible debt and common stock issued by the company. Nason Yeager assisted Unusual Machines in its preparation and filing of the registration statement and related documents with the Securities and Exchange Commission, negotiating, drafting and revising definitive and ancillary agreements, and conducting due diligence with respect to each of the initial public offering and acquisition, as well as advising on and facilitating various corporate actions that were necessary in the preparation and execution of the transactions and the company’s listing onto the NYSE American.
The Nason Yeager team was led by shareholder Michael Harris and attorneys Ed Schauder, Constantine Christakis and Briana Reed. These attorneys are part of the firm’s Securities practice group, with extensive experience and expertise in representing issuers, hedge funds and family offices and other parties in capital markets transactions and mergers and acquisition transactions such as those described above.