NYSEAM:UMAC - Post by User
Post by
Iseneschalon Dec 02, 2024 5:18am
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Post# 36340103
UMAC....now trading at $22.63 in early PM
UMAC....now trading at $22.63 in early PM1.3 million shares have traded
This has totally exceeded my expectations>>>here is an interesting excerpt from a recent NR....
Finalization of a Private Placement
As a subsequent event, we finalized a private placement in October for an aggregate financing of $1.955M. We received net proceeds of $1.733M. We are confident this transaction benefits shareholders as the pricing of the transaction was above the close of the market and included warrants with a strike price of $1.99. This private placement provides us with cash to meet our operational needs and the ability to generate more operating capital from the conversion of the warrants. We feel that this transaction strikes the right balance between dilution and providing the resources for growth. Without conversion of the warrants, the fully diluted common share count is approximately 12.6 million shares and should be used when calculating an adjusted market cap.