The Rise of the American Drone Industry

About this update from Dominari Holdings Inc.

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...

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