The Rise of the American Drone Industry

Rhea-AI Summary

Dominari Holdings (Nasdaq: DOMH) detailed its role in financing key participants in the growing American drone sector, including Unusual Machines (NYSE American: UMAC), Aureus Greenway (Nasdaq: PUSA), and JFB Construction Holdings (Nasdaq: JFB).

Dominari supported UMAC’s IPO and follow-on offerings, helping it reach a reported $1.5B valuation, and highlighted portfolio involvement in the U.S. Department of Defense’s Drone Dominance Program, which targets procurement of over 200,000 drones by 2027. Across three portfolio companies, Dominari cites total capital raised of $349,404,002.

Positive

• Unusual Machines total capital raised of $245,455,000 since February 2024
• Aureus Greenway total capital raised of $50,029,002 since February 2025
• JFB Construction Holdings total capital raised of $53,920,000 since October 2025
• Combined portfolio capital raises of $349,404,002 across three drone-related companies
• UMAC shares rose 50% after reports of possible Trump administration funding discussions
• Multiple portfolio companies invited to Phase II of the Pentagon’s Drone Dominance Program

Negative

• None.

News Market Reaction – UMAC

+15.72% 1.6x vol

75 alerts

+15.72% Session close to close

+23.7% Peak in 11 hr 25 min

$1.64B Market Cap

1.6x Rel. Volume

In the Jun 2 session, UMAC gained 15.72%, reflecting a significant positive market reaction. Argus tracked a peak move of +23.7% during that session. Our momentum scanner triggered 75 alerts that day, indicating high trading interest and price volatility. Trading volume was above average at 1.6x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock surged +15.7% in the session following this news. A strong positive reaction aligns with t...

Analysis

The stock surged +15.7% in the session following this news. A strong positive reaction aligns with the broader narrative of accelerating U.S. drone investment highlighted in this letter, including selection of portfolio companies for a roughly $1 billion Pentagon initiative and UMAC’s past 50% jump on funding speculation. Historical data show UMAC sometimes rallies sharply on ecosystem catalysts, but prior filings also document insider sales and significant capital raises, factors that could later weigh on extended upside moves.

Key Figures

UMAC valuation: $1.5B UMAC share move: 50% Drones procurement goal: 200,000 drones +5 more

8 metrics

UMAC valuation $1.5B Valuation as of close on May 29, 2026

UMAC share move 50% Share price surge following WSJ funding report

Drones procurement goal 200,000 drones U.S. DoD Drone Dominance Program target by 2027

Defense budget request $1.5 trillion President Trump’s FY 2027 defense budget request

Pentagon initiative size $1 billion Approximate size of Drone Dominance Program initiative

UMAC total raised $245,455,000 Cumulative capital raised across listed UMAC transactions

Aureus total raised $50,029,002 Cumulative capital raised for Aureus Greenway Holdings

Combined capital $349,404,002 Combined total raised by UMAC, Aureus, and JFB

Historical Context

5 past events · Latest: May 29 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 29	Conference participation	Positive	+7.4%	Announced participation in multiple June 2026 investor conferences with 1x1 meetings.
May 14	Quarterly letter	Positive	-4.3%	Reported strong Q1 2026 revenue growth and investment gains despite an operating loss.
May 11	Strategic acquisition	Positive	+14.3%	Signed agreement to acquire Upgrade Energy, adding domestic battery manufacturing capabilities.
May 8	Trade show demos	Positive	-0.6%	Hosted live drone ecosystem demonstrations at XPONENTIAL 2026 with multiple partners.
May 5	Strategic purchases	Positive	-1.6%	Initiated about $75M in materials purchases to support program-driven drone demand.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news has often seen UMAC diverge from positive headlines, with three negative and two positive next-day moves on generally constructive updates.

Recent Company History

Over the past month, UMAC announced investor conference participation on May 29, a strong Q1 2026 shareholder letter on May 14, a strategic acquisition of Upgrade Energy on May 11, live demonstrations at XPONENTIAL 2026 on May 8, and a $75M strategic materials purchase plan on May 5. Price reactions have been mixed, with notable gains on the acquisition and conferences, but several constructive operational updates saw modest declines, indicating inconsistent trading responses to news.

Key Terms

ipo, pipe, registered direct, merger, +3 more

7 terms

ipo financial

"Dominari was then the lead underwriter on UMAC's IPO on the New York Stock Exchange."

An initial public offering (IPO) is the process by which a private company sells its shares to the public for the first time, making its ownership available on the stock market. This allows the company to raise money from a wide range of investors to fund growth or other goals. For investors, an IPO offers a chance to buy into a company early in its public journey, potentially benefiting if the company grows in value.

View in glossary

pipe financial

"IPO | $5,000,000 | February 16, 2024 PIPE | $1,955,000 | October 30, 2024"

A PIPE (private investment in public equity) is a deal in which institutional or accredited investors buy shares or convertible securities directly from a publicly traded company, usually at a discount to the market price. Companies use PIPEs to raise money faster than through a traditional public offering; for existing shareholders they matter because the newly issued shares add to the share count and can dilute ownership.

registered direct financial

"CMPO | $40,000,000 | May 6, 2025 Registered Direct | $48,500,000 | July 15, 2025"

A registered direct is a way a company sells newly registered shares or other securities straight to one or a few institutional or accredited investors without a broad public marketing campaign. Think of it like a pre-arranged private sale that uses public registration papers to make the deal faster and legally clean; it matters to investors because it quickly changes the number of outstanding shares and can affect share price, ownership percentages, and company funding.

merger financial

"XTEND, which is set to go public through its proposed merger with JFB Construction Holdings"

A merger is when two companies combine into a single business, with ownership and control reorganized so they operate as one entity. For investors it matters because mergers can change the value and risk of holdings—shares may be exchanged, diluted, or rise if the combined company saves costs or gains market power, and the deal often depends on regulatory approval and successful integration like two households joining resources and routines.

phase ii qualifier regulatory

"invited to participate in the Phase II Qualifier of the U.S. Department of Defense's Drone"

A phase II qualifier is a mid-stage clinical study designed to show enough benefit and safety for a drug or treatment to move into larger, late-stage testing. Think of it as a pilot flight that must demonstrate the plane can fly reliably before investing in a full commercial run; for investors, a successful qualifier reduces the scientific and regulatory risk and makes future funding, partnerships, or valuation increases more likely.

u.s. department of defense regulatory

"Phase II Qualifier of the U.S. Department of Defense's Drone Dominance Program."

The U.S. Department of Defense is the federal agency that manages the country’s armed forces and oversees military policy, procurement, and large-scale contracts. Think of it as the nation’s chief buyer and organizer for defense needs; its budget decisions and procurement choices can drive revenue, risk and growth for companies that supply equipment, technology or services, so investors watch its spending and policy shifts closely.

pentagon regulatory

"approximately $1 billion Pentagon initiative."

The Pentagon is the common name for the United States Department of Defense and its headquarters; think of it as one very large, centralized customer that sets military needs, budgets and procurement rules. For investors, mentions of the Pentagon matter because its spending decisions, contract awards, policy shifts and threat assessments can directly change revenue prospects, supply chains and risk for defense and related companies — similar to a major retailer reshaping a supplier’s business.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, June 2, 2026 /PRNewswire/ -- Dominari Holdings Inc. (Nasdaq: DOMH) today issued the following letter to shareholders:

Dear Shareholder,

The rise of drones in our society has become ubiquitous. Whether it's the discussion of their use to make deliveries, their use to cover sporting events, or their constant presence when discussing conflicts in the middle east, drones are everywhere. And at Dominari, we are proud to play our part in building and supporting this growing American industry.

Since our inception, Dominari has been involved in supporting this important new facet of American society, starting with Unusual Machines (NYSE American: UMAC). Dominari was involved with UMAC when it was still a private company, working with their outstanding leadership to help them prepare for going public. Dominari was then the lead underwriter on UMAC's IPO on the New York Stock Exchange. It was also Dominari's first IPO. We have continued to support UMAC through several follow-on offerings that have helped UMAC surpass a $1.5B valuation as of the close on May 29th. And recently, UMAC was highlighted as one of a select group of drone companies the Trump administration is reportedly considering for potential direct government funding. According to recent coverage by The Wall Street Journal, discussions have included possible financing structures involving a mix of debt and equity. Shares of Unusual Machines surged 50% following the report.

In addition to UMAC, Dominari has worked with XTEND, which is set to go public through its proposed merger with JFB Construction Holdings (Nasdaq: JFB). XTEND was also selected among a limited group of companies invited to participate in the Phase II Qualifier of the U.S. Department of Defense's Drone Dominance Program. The Drone Dominance Program is a large-scale defense initiative designed to accelerate the deployment of next-generation autonomous drone technologies, with a stated goal of supporting the procurement of more than 200,000 drones by 2027. Drone dominance was described as a "presidential priority" in President Trump's $1.5 trillion defense budget request for fiscal year 2027. XTEND expects to demonstrate its proprietary XOS operating system at the qualifier event this summer at Camp Grayling, showcasing scalable human-guided autonomous operations across complex and contested environments.

Further, Powerus Corporation, which merged into Aureus Greenway Holdings (Nasdaq: PUSA), was similarly selected to compete in the Phase II qualifier of the Drone Dominance Program with its MatrixFold multi-purpose attack drone, making Aureus Greenway another portfolio company participating in this approximately $1 billion Pentagon initiative.

Dominari is incredibly proud of our work with these companies, and we wish each of them congratulations and continued success. The rise of the American drone industry is an important factor in our country's new economy, and we are honored to be a part of that rise.

Please see below for an outline of the capital raises completed for each portfolio company, along with the associated timeframes.

Unusual Machines, Inc.

Transaction Type	Amount	Date
IPO	$5,000,000	February 16, 2024
PIPE	$1,955,000	October 30, 2024
CMPO	$40,000,000	May 6, 2025
Registered Direct	$48,500,000	July 15, 2025
CMPO	$150,000,000	March 23, 2026
Total Raised	$245,455,000

Aureus Greenway Holdings Inc.

Transaction Type	Amount	Date
IPO	$15,000,000	February 13, 2025
PIPE	$26,000,000	July 25, 2025
Merger Announcement with Powerus Corporation	—	March 9, 2026
PIPE	$9,029,002	March 10, 2026
Total Raised	$50,029,002

JFB Construction Holdings

Transaction Type	Amount	Date
PIPE	$43,895,000	October 2, 2025
Merger Announcement with XTEND Reality Expansion	—	February 17, 2026
PIPE	$10,025,000	February 18, 2026
Total Raised	$53,920,000

Summary of Total Capital Raised

Portfolio Company	Total Raised
Unusual Machines, Inc.	$245,455,000
Aureus Greenway Holdings Inc.	$50,029,002
JFB Construction Holdings	$53,920,000
Combined Total	$349,404,002

As always, everyone at Dominari thanks you for being a shareholder.

Sincerely,

Anthony Hayes
CEO, Dominari Holdings Inc.

For additional information about Dominari Holdings Inc., please visit: https://www.dominariholdings.com/

About Dominari Holdings Inc.

The Company is a holding company that, through its various subsidiaries, is currently engaged in wealth management, investment banking, sales and trading and asset management. In addition to capital investment, Dominari Holdings provides management support to the executive teams of its subsidiaries, helping them to operate efficiently and reduce cost under a streamlined infrastructure. In addition to organic growth, the Company seeks opportunities outside of its current business to enhance shareholder value, including in the AI and Data Center sectors.

Dominari Securities LLC's Mission Statement:

Dominari Securities LLC, a principal subsidiary of Dominari Holdings Inc., is a dynamic, forward-thinking financial services company that seeks to create wealth for all stakeholders by capitalizing on emerging trends in the financial services sector and identifying early-stage future opportunities that are expected to generate a high rate of return for investors.

Securities Brokerage and Registered Investment Adviser Services are offered through Dominari Securities LLC, a Member of FINRA, MSRB and SIPC. Securities brokerage, investment adviser and other non-bank deposit investments are not FDIC insured and may lose some or all of the principal invested. You can check the background of Dominari Securities and its registered investment professionals and review its SEC Form CRS on FINRA's BrokerCheck site at https://brokercheck.finra.org. Information for Dominari Securities LLC and its registered investment professionals as well as its SEC Form CRS may also be found on FINRA's BrokerCheck site.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, which include but are not limited to the Risk Factors set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 relating to its business. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contacts:
Dominari Holdings Inc.
https://www.dominariholdings.com/
info@dominari.com

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SOURCE Dominari Holdings Inc.

FAQ

What role does Dominari Holdings (DOMH) play in the American drone industry?

Dominari acts as a capital markets partner to several drone-focused companies. According to Dominari, it led Unusual Machines’ IPO and multiple follow-on offerings, and helped raise a combined $349,404,002 for Unusual Machines, Aureus Greenway, and JFB Construction Holdings.

How much capital has Dominari helped raise for Unusual Machines (UMAC)?

Dominari reports arranging $245,455,000 for Unusual Machines since February 2024. According to Dominari, this includes an IPO, multiple PIPEs, CMPOs, and a registered direct offering, supporting UMAC’s growth and contributing to a reported $1.5B valuation as of May 29.

What is the connection between JFB Construction Holdings (Nasdaq: JFB) and XTEND?

JFB is the proposed merger partner for XTEND’s public listing. According to Dominari, JFB announced a merger with XTEND Reality Expansion in February 2026 and completed two PIPE financings totaling $53,920,000 in associated capital raises.

How are Dominari’s portfolio companies involved in the U.S. Drone Dominance Program?

Several Dominari-backed companies were selected for Phase II qualifiers. According to Dominari, XTEND and Aureus Greenway’s Powerus unit will compete in this Pentagon initiative, which targets procurement of more than 200,000 drones by 2027 and is described as a presidential priority.

What potential government funding is Unusual Machines (UMAC) reportedly being considered for?

UMAC is reportedly among drone companies the Trump administration is considering for direct funding. According to Dominari, Wall Street Journal coverage described discussions about mixed debt-and-equity structures, and UMAC shares rose 50% in response to that report.

How much total capital has Dominari facilitated for its three main drone-related holdings?

Dominari cites a combined total of $349,404,002 raised across Unusual Machines, Aureus Greenway, and JFB. According to Dominari, these funds were obtained through IPOs, PIPEs, CMPOs, and registered direct offerings from 2024 through early 2026.

What are the key capital raises involving JFB Construction Holdings (JFB)?

JFB completed two PIPE financings linked to its XTEND merger plans. According to Dominari, JFB raised $43,895,000 in October 2025 and $10,025,000 in February 2026, totaling $53,920,000 in capital.