Draganfly arranges $10 million share sale backed by Unusual Machines

Draganfly ($DPRO) has arranged a $10 million registered direct offering to Unusual Machines ($UMAC) and an unnamed U.S. investment fund, with each investor contributing $5 million. The company will issue 1,869,159 common shares at $5.35 each, matching the preceding trading day’s closing price. Gross proceeds are stated before placement-agent discounts and offering expenses.

Draganfly intends to fund advanced capabilities and working capital as it expands defense and commercial drone activity. For Unusual Machines, the investment also deepens a supplier relationship and supports a customer’s production capacity. Completion is expected on or about September 29, subject to customary conditions and required regulatory steps. The investment is therefore agreed rather than already closed, and the new shares will dilute existing holders even though the price was set at market.

Sources:

• Draganfly company release — GlobeNewswire