Unusual Machines, Inc. was represented by Nason, Yeager, Gerson, Harris & Fumero, P.A. in the company’s simultaneous closings of its initial public offering and its acquisition of Fat Shark Ltd. and Rotor Riot, LLC. These subsidiaries of Red Cat Holdings, Inc. are involved in the development and sale of consumer drones and first-person view goggles. During the initial public offering, Unusual Machine sold 1.25 million shares of common stock and generated gross proceeds of $5 million. Out of this amount, $1 million was utilized to acquire Fat Shark and Rotor Riot. Additionally, the consideration of $17 million included convertible debt and common stock issued by the company.
Unusual Machines received assistance from Nason Yeager in preparing and filing its registration statement and related documentation with the Securities and Exchange Commission. Nason Yeager was also responsible for negotiating, drafting, and revising definitive and ancillary agreements, conducting due diligence concerning both the initial public offering and acquisition, and advising on and facilitating various corporate actions necessary for the preparation and execution of the transactions and the company’s listing on the NYSE American.
The team from Nason Yeager, with offices in Boca Raton and Palm Beach Gardens, was headed by shareholder Michael Harris (main photo) and included attorneys Ed Schauder, Constantine Christakis, and Briana Reed. They belong to the firm’s Securities practice group and have vast experience and proficiency in representing various parties, such as issuers, hedge funds, and family offices, in capital markets transactions and mergers and acquisition transactions, as mentioned earlier.
Unusual Machines has set its sights on becoming a first-person view (FPV) drone technology market leader. The company recently closed its IPO and strategically acquired two industry leaders, Fat Shark and Rotor Riot. Fat Shark is known for its ultra-low latency video goggles for drone pilots, while Rotor Riot is a rapidly growing e-commerce marketplace with the largest community of FPV drone pilots in the world. The acquisitions align with Unusual Machines’ vision to revolutionize the robotics industry and enable more people to participate. Unusual Machines is headquartered in Puerto Rico and is combining great teams, valuable intellectual property, and high-quality brands to establish a strong foothold in the highly fragmented drone industry.
