Business
Red Cat Holdings Announces Closing of $46.75 Million Registered Direct Offering of Common Stock
SAN JUAN, Puerto Rico, June 18, 2025 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, has successfully closed the previously announced registered direct offering with certain institutional investors for the purchase and sale of 6,448,276 shares of common stock resulting in gross proceeds of approximately $46.75 million, before deducting plac
About this update from Red Cat Holdings, Inc.
[{"type":"image","alt":"Red Cat Holdings, Inc.","displaySize":"","headline":null,"caption":"Red Cat Holdings, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":68,"url":"https://media.zenfs.com/en/globenewswire.com/6377515bad2011453697e5335d89d135"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/aHQ2QJkjAvxw5_IVMR3jDg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTk1O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/6377515bad2011453697e5335d89d135","width":300,"height":68}},"lazy":false},{"type":"text","content":"SAN JUAN, Puerto Rico, June 18, 2025 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, has successfully closed the previously announced registered direct offering with certain institutional investors for the purchase and sale of 6,448,276 shares of common stock resulting in gross proceeds of approximately $46.75 million, before deducting placement agent fees and other offering expenses. The offering closed on June 18, 2025.","length":583,"tagName":"p"},{"type":"text","content":"The Company intends to use net proceeds from the offering for general corporate and working capital purposes, including but not limited to operating expenditures related to its new unmanned surface vessel division.","length":214,"tagName":"p"},{"type":"text","content":"“We believe this financing positions Red Cat for significant growth in the drone industry and will accelerate our product development and production for our newly formed Unmanned Surface Vessels (USVs) division for the maritime autonomy market,” said Jeff Thompson, Founder, Chairman and Chief Executive Officer of Red Cat.","length":323,"tagName":"p"},{"type":"text","content":"Recent Operational Highlights","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Expansion of our manufacturing capacity by moving the Edge 130 production to a new, larger facility that will produce 150 Edge 130s per month and is in process of doubling the Black Widow production capacity, enabling an eventual production of 1,000 per month.","length":260,"tagName":"p"}]},{"val":[{"type":"text","content":"We have been diligently working to identify top talent and manufacturing capacity for our USV division to ...