Top Financings of the Week

Sonic Crypto Proxy Spetz Upsizes Private Placement up to $10 Million Amid Strong Investor Demand

By Taylor Pierce - Tuesday, May 13

The Recap

The best information on capital raises and financing activity in under 5 minutes:

  • Spetz Inc. (CSE: SPTZ, OTC PINK: DBKSF) The public Sonic crypto proxy announces it has extended and upsized its recently announced financing to a maximum of CAD $10 million due to strong investor demand.

  • Southern Cross Gold Consolidated Ltd. (TSXV: SXGC, ASX: SX2) Closes first tranche of its previously announced CAD $143 million private placement.

  • Unusual Machines, Inc. (NYSE: UMAC) The drone component & drone manufacturer successfully closed a $40 million confidentially marketed public offering of 8,000,000 common shares at $5.00 per share.

Mitchell Demeter, Founder & CEO of Sonic Strategy at the Sonic Labs Event in Vienna, Austria.

Spetz Inc. a public Sonic crypto proxy announces it has extended and upsized its recently announced financing to a maximum of CAD $10 million due to strong investor demand.

"Investor demand has been very strong, and we're in the final stages of completing this raise," said Mitchell Demeter, CEO and Director of Spetz. "We're excited about the strategic capital coming in and what it will enable us to build moving forward."

Spetz is a multinational technology company operating at the intersection of AI-driven marketplaces and blockchain infrastructure. The Company’s primary asset, Sonic Strategy, is a blockchain staking and infrastructure company supporting the Sonic ecosystem.

Image sourced from Southern Cross’ Corporate Presentation

Southern Cross Gold has closed its first tranche of its previously announced CAD $143 million private placement.

The net proceeds from the Placement are expected to deliver the following key milestones in the growth and development of the Sunday Creek Gold-Antimony Project, located 60 km north of Melbourne, Australia:

CAD$53M for drilling targeted to establish an Inferred Resource by Q1 2027

CAD$27M for 1 km decline development to accelerate access to mineralization

CAD$4M for a Preliminary Economic Assessment in respect of Sunday Creek

CAD$59M for exploration target expansion, regional exploration along the 12 km mineralized trend, working capital and G&A over three years.

The Company controls the Sunday Creek Gold-Antimony Project located 60 km north of Melbourne, Australia. Sunday Creek has emerged as one of the Western world's most significant gold and antimony discoveries.

Unusual Machines raised $40 million through a public offering of common stock, with the offering priced at $5.00 per share.

The proceeds from the offering will be used to accelerate the completion of the company's drone motor facility in Orlando, Florida, and for general corporate purposes.

The Company manufactures and sells drone components and drones across a diversified brand portfolio, which includes Fat Shark, the leader in FPV (first-person view) ultra-low latency video goggles for drone pilots.

With a changing regulatory environment, Unusual Machines seeks to be a dominant component supplier to the fast-growing multi-billion-dollar US drone industry and the global defense business.

Top Money Moves

Company

Money Raised ($USD)

Sector

ADP

$1,000,000,000

Human Resources

Howard Hughes Corporation

$900,000,000

Real Estate

IDACORP

$450,000,000

Energy

Wintrust Financial

$425,000,000

Financial Services

ONE Gas

$197,500,000

Energy

NovaGold Resources

$179,400,000

Mining

i-80 Gold

$160,000,000

Mining

Ravi Infra-Build Projects

$128,790,654

Construction

Southern Cross Gold

$64,395,277

Mining

Brazil Potash

$54,265,052

Agriculture

Unusual Machines

$40,000,000

Aerospace

Fireweed Metals

$32,412,926

Mining

Svenska Handelsbanken

$30,666,422

Financial Services

Touchstone Exploration

$20,392,329

Oil and Gas

SEALSQ

$20,000,000

Semiconductor

MetaVia

$10,000,000

Biotechnology

Onyx Gold

$8,004,519

Mining

FAVO Capital

$8,000,000

Real Estate

Theriva Biologics

$7,500,000

Biotechnology

NuCana BioMed

$7,000,000

Biotechnology

Pasithea Therapeutics

$6,300,000

Biotechnology

Dogness (International)

$6,000,000

Manufacturing

Kingfisher Metals

$5,071,574

Mining

Nexalin Technology

$5,000,000

Healthcare Technology

BioAffinity Technologies

$3,250,000

Biotechnology

Excite Technology Services

$2,800,000

Information Technology

NKGen Biotech

$2,650,000

Biotechnology

Matador Gold Technologies

$2,151,694

Financial Technology

Bio-Gene Technology

$2,100,000

Biotechnology

authID

$2,100,000

Cybersecurity

Hilbert Group

$2,079,079

Financial Services

Brunswick Exploration

$1,800,718

Mining

Turnium Technology Group

$1,440,575

Software

Genetic Analysis

$1,232,569

Biotechnology

Palatin Technologies

$1,100,000

Biotechnology

MAIA Biotechnology

$1,080,000

Biotechnology

Lead Investors

  • Howard Hughes Corporation: $900,000,000 | Real Estate | Lead Investor: Pershing Square Holdings

  • Southern Cross Gold: $64,395,277 | Mining | Lead Investor: Darren Morcombe

  • Brazil Potash: $54,265,052 | Agriculture | Lead Investor: Alumni Capital Management

  • FAVO Capital: $8,000,000 | Real Estate | Lead Investor: Stewards Investment Capital

  • NKGen Biotech: $2,650,000 | Biotechnology | Lead Investor: Paul Y. Song

  • Hilbert Group: $2,079,079 | Not Specified | Lead Investor: Molcap/Qvist Holding, Niclas Sandstrom

Do you know of any other lead investors who put capital into the markets this week? We would be happy to feature the transactions, send us an email at [email protected]

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