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Unusual Machines, Inc. Closes its Initial Public Offering With Legal Representation From Nason Yeager Gerson Harris & Fumero

Some of the funds were used to acquire two other companies.

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.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.