BUZZ - Drone manufacturer Powerus shares plunge after announcing stock issuance plan

October 19 - ** Shares of Powerus (PUSA.O) fell 6.3% to $1.93 on Monday after the company disclosed a stock offering plan

** The company, which manufactures aerial and maritime drones for military and industrial use, said on Monday morning that according to documents filed with the U.S. Securities and Exchange Commission (SEC) (link), it may issue shares up to a total of $250 million; in addition, shareholders selling shares may sell about 7.4 million shares

** The company plans to use the net proceeds for general corporate purposes, including expanding its existing business, acquiring or investing in other businesses, and repaying debt

** Since the company completed its merger with Aureus Greenway (link) on October 1, PUSA shares have fallen by 50%. Aureus Greenway is a golf club operator (link) backed by the two eldest sons of President Trump

** According to the disclosed documents, Trump's two sons—Donald Trump Jr. and Eric Trump—hold approximately 79.6 million PUSA shares through an investment fund called "American Ventures," with an effective ownership of 9.9%

** Drone components manufacturer Unusual Machines (UMAC.A)—on whose advisory board Donald Trump Jr. serves—holds about 10.2 million PUSA shares, translating to an effective ownership of 4.9%

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