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

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk