Drone maker Powerus slumps after unveiling stock offering

By Reuters News

** Shares of Powerus PUSA.O slide 6.3% to $1.93 on Mon after disclosing stock offering

** Maker of aerial and maritime drones for military and industrial use said early Mon it may offer up to $250 mln of shares, per an SEC filing; in addition, selling stockholders may sell ~7.4 mln shares

** Co intends to use net proceeds it receives for general corp purposes, including expanding existing businesses, acquiring or investing in other businesses and paying down debt

** PUSA shares have shed 50% since co on Oct 1 completed its merger with Aureus Greenway, golf club operator backed by President Trump's two eldest sons

** Trump's sons, Donald Trump Jr. and Eric Trump, own ~79.6 mln PUSA shares via an investment fund called American Ventures for 9.9% beneficial stake, per the filing

** Drone components manufacturer Unusual Machines UMAC.A, which counts Trump Jr. as a member of its advisory board, holds ~10.2 mln PUSA shares for 4.9% beneficial stake

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