11:01 AM EDT, 05/07/2025 (MT Newswires) -- Unusual Machines ( UMAC ) said Wednesday it has raised $40 million in a public stock offering selling 8 million common shares at $5 apiece.

The offering was marketed confidentially and closed on May 7, the company said.

CEO Allan Evans, the board of directors, and advisory board members also bought shares under the same terms as other investors, it added.

The company plans to use the funds to buy an estimated $2 million in drone motor equipment and cover general corporate needs and working capital, according to the company.

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