Red Cat Holdings, Inc. (NASDAQ: RCAT) has just announced a registered direct offering of 4,724,412 shares of common stock, which is expected to result in gross proceeds of approximately $30 million. This offering is expected to close on or about April 11, 2025. The company intends to use the net proceeds for general corporate purposes, including working capital.
The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-283242), which was declared effective by the Securities and Exchange Commission (SEC) on December 11, 2024.
Northland Capital Markets is acting as the exclusive placement agent for the transaction.
Red Cat Holdings, Inc. (NASDAQ: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through its subsidiaries, Teal Drones and FlightWave Aerospace, the company has developed a leading-edge family of systems, including the flagship Black Widow™, a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record contract. The family of systems also includes Trichon™, a fixed-wing VTOL for extended endurance and range, and Fang™, the industry’s first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities.
As a result of these announcements, the company's shares have moved 6.2% on the market, and are now trading at a price of $6.16. For the full picture, make sure to review Red Cat's 8-K report.
