Red Cat Holdings plans to offer Common Stock to the public

Red Cat Holdings, Inc. has announced its plans to undertake a public offering of common stock, aimed at raising capital for the company. The drone technology firm is looking to integrate robotic hardware and software for a range of applications, including military, government, and commercial operations.

The Company is set to sell shares of its common stock in an underwritten public offering and may offer the underwriter an option to purchase additional shares within 30 days. The exact size and terms of the offering will be dependent on market conditions and other factors. Red Cat intends to utilize the net proceeds from the offering to support general corporate activities and working capital needs, including operational expenses and capital investments in its unmanned surface vessel division.

Northland Capital Markets has been appointed as the exclusive bookrunner for the transaction, overseeing the process of the public offering. Red Cat has already filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC), which was declared effective recently. The offering will be conducted following the guidelines set out in the registration statement.

It is important to note that this press release does not serve as an offer to sell or solicit an offer to buy these securities in jurisdictions where such activities are restricted. Interested parties should refer to the necessary documentation, including the prospectus and prospectus supplement, to make informed decisions regarding the offering.

Red Cat Holdings, Inc., trading as RCAT on the Nasdaq, specializes in delivering advanced drone and robotic solutions across various domains, particularly for defense and national security purposes. The company, through its subsidiaries Teal Drones and FlightWave Aerospace, develops cutting-edge hardware and software solutions that support a wide range of operations on air, land, and sea.

The flagship Family of Systems, anchored by the Black Widow™ platform, offers high-performance tactical capabilities in the realm of small unmanned aircraft systems (sUAS). Additionally, Red Cat is expanding its operations into the maritime sector with Blue Ops, Inc., focusing on uncrewed surface vessels (USVs) to enhance safety and mission effectiveness across multiple domains.

In conclusion, this forward-looking announcement signifies an important step for Red Cat Holdings, Inc. as it endeavors to raise capital through a public offering of common stock. The company’s commitment to innovation and robust technological solutions is evident in its range of offerings geared towards military, government, and public safety users. With a focus on quality, performance, and effectiveness, Red Cat is poised to make significant strides in the drone technology and robotics industry.