Red Cat Announces $46.75M Direct Stock Offering

By Bobby Samwell • Thursday, June 19 10:09 • Permanent Link

Red Cat Holdings, Inc. (NASDAQ: RCAT) has announced a registered direct offering of 6,448,276 shares of common stock, expected to result in gross proceeds of approximately $46.75 million. The offering is anticipated to close on or about June 18, 2025, subject to customary closing conditions.

The company plans to utilize the net proceeds from the offering for general corporate and working capital purposes, including operating expenditures related to its new unmanned surface vessel division.

Northland Capital Markets is serving as the exclusive placement agent for the transaction.

This 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.

Red Cat Holdings, Inc. (NASDAQ: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through its wholly owned 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. Following these announcements, the company's shares moved -0.34%, and are now trading at a price of $7.295. For the full picture, make sure to review Red Cat's 8-K report.

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