Unusual Machines Agrees to Exchange $1M of Its Existing Debt for Series C Preferred Shares Convertible at Market Value
Unusual Machines Agrees to Exchange $1M of Its Existing Debt for Series C Preferred Shares Convertible at Market Value
ORLANDO, FL / ACCESSWIRE / August 22, 2024 / Unusual Machines, Inc. (NYSE American:UMAC) ("Unusual Machines" or the "Company"), an American drone and drone components manufacturer, on August 21, 2024 entered into two exchange agreements (each, an "Exchange Agreement") with existing promissory note holders. These agreements will cancel an aggregate of $1.0 million of the Company's existing $4.0 million indebtedness. In exchange, Unusual Machines issued (i) two new convertible notes in the aggregate principal amount of $3.0 million (the "New Notes"), (ii) Series C preferred stock convertible into shares of our common stock at $1.59 per share, the share price at close of market as of August 20, 2024, and (iii) five-year warrants exercisable at $1.99 per share (subject to certain adjustments).
FL奥兰多,FL / ACCESSWIRE / 2024年8月22日 / 飞凡机器公司(纽约交易所美国:UMAC)("飞凡机器"或"公司"),一家美国无人机和无人机元件制造商,于2024年8月21日与现有可兑现票据持有人签订了两项交换协议(每项为"交换协议")。 这些协议将取消公司现有400万美元债务中的100万美元。作为交换,飞凡机器发行了(i)总额为300万美元的两张新可转换票据("新票据"),(ii)按每股1.59美元折合成本公司股票的C类优先股,即2024年8月20日收盘时的股价,以及(iii)行使价为每股1.99美元的五年期认股权证(受到某些调整限制)。
In addition, the New Notes contain an optional conversion feature into Series C preferred stock at $1.99 per share (125% of the closing bid price on August 20, 2024) and a reduction in interest rate from 8% to 4%.
此外,新票据包含一个可选的转换功能,按每股1.99美元折合成C类优先股(2024年8月20日收盘买盘价格的125%),并将利率从8%降至4%。
The Notes and Series C preferred stock contain beneficial ownership limitations preventing the Note holders from owning in excess of 4.99%, 9.99% of outstanding shares of common stock and, subject to shareholder approval, 19.99% of all current outstanding common stock. The holders also received certain registration rights.
这些票据和C类优先股包含有益的所有权限制,防止票据持有人持有超过公司流通普通股的4.99%,9.99%,并在股东批准的情况下,所有现有流通普通股的19.99%。持有人还获得了某些注册权利。
"We are excited to close on this deal which strengthens the Company's balance sheet at current and above market rates while maintaining shareholder value for all investors. We have reduced the principal balance on the notes and secured a lower interest rate. We will continue to focus on cash flow and long-term positioning as we embark on our next stage of growth," said Brian Hoff, CFO of Unusual Machines.
"我们很高兴完成这笔交易,这笔交易增强了公司的资产负债表,同时以目前和高于市场率维持所有投资者的股东价值。我们已经减少了票据的本金余额并获得了更低的利率。在我们迎接下一个增长阶段期间,我们将继续专注于现金流和长期定位,"飞凡机器的CFO布赖恩·霍夫说。
About Unusual Machines
关于Unusual Machines
Unusual Machines manufactures and sells drone components and drones across a diversified brand portfolio, which includes Fat Shark, the leader in FPV (first-person view) ultra-low latency video goggles for drone pilots. The Company also retails small, acrobatic FPV drones and equipment directly to consumers through the curated Rotor Riot e-commerce store. With a changing regulatory environment, Unusual Machines seeks to be a dominant Tier-1 parts supplier to the fast-growing multi-billion-dollar U.S. drone industry. According to Fact.MR, the global drone accessories market is currently valued at $17.5 billion and is set to top $115 billion by 2032.
飞凡机器生产和销售多元化品牌系列的无人机元件及无人机,其中包括FPV(第一人称视角)无人机飞行员佩戴超低延迟视频眼镜领导品牌Fat Shark。该公司还通过精选的Rotor Riot电子商务店直接销售小型、飞行特技的FPV无人机和设备。随着不断变化的监管环境,飞凡机器致力于成为快速增长的美国无人机行业的主要一级部件供应商。根据Fact.MR的数据,全球无人机配件市场当前价值为175亿美元,到2032年将达到1150亿美元。
For more information visit Unusual Machines at .
欲了解更多信息,请访问飞凡公司网站。
Safe Harbor Statement
Safe Harbor声明
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including embarking on our new stage of growth. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements,. The results expected by some or all of these forward-looking statements may not occur. Factors that affect these forward-looking statements include competition we face and the possibility that competitors develop and market more effective and/or less expensive alternatives to our products, our ability to obtain and maintain regulatory clearance for our products, private and government spending trends and initiatives which may among other things be adversely impacted by economic challenges such as a possible U.S. or global recession and potential adverse developments in government spending on our products and related technologies, and those risks described in the section titled "Risk Factors" in our filings with the Securities and Exchange Commission, including our final Prospectus filed with the Securities and Exchange Commission on April 19, 2024. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Any forward-looking statement made by us herein speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
本新闻稿包含根据1995年《私人证券诉讼改革法》所述前瞻性陈述,包括进入我们的新成长阶段。 “相信”,“可能”,“估计”,“继续”,“预计”,“打算”,“应该”,“计划”,“能够”,“目标”,“潜力”,“有可能”,“将”,“预期”等与我们有关的表述旨在识别前瞻性陈述。根据这些前瞻性陈述中的某些或所有预期的结果可能不会发生。影响这些前瞻性陈述的因素包括我们面临的竞争以及竞争对手可能开发和推出比我们产品更有效和/或更便宜的替代品,我们获得和保持产品的监管清除能力,私人和政府支出趋势和倡议等,这些可能受经济挑战如美国或全球经济衰退可能及潜在的政府对我们的产品和相关技术支出的不利发展的影响,以及我们在向美国证券交易委员会提交的文件中描述的那些风险,包括2024年4月19日我们向美国证券交易委员会提交的最终招股说明书中的“风险因素”部分。可能导致我们的实际结果与预期不符的因素或事件可能不时出现,对于我们无法预测所有这些因素。我们在此发表的任何前瞻性陈述仅适用于其发表日期。我们对于将来的任何新信息、发展或其他情况并无更新任何前瞻性陈述的义务,除非法律另有要求。
Contact:
CS Investor Relations
917-633-8980
investors@unusualmachines.com
联系方式:
CS投资者关系
917-633-8980
investors@unusualmachines.com
SOURCE: Unusual Machines
来源: 飞凡机器