Red Cat Holdings Announces $30 Million Registered Direct Offering of Common Stock

Core Viewpoint - Red Cat Holdings, Inc. has announced a registered direct offering of 4,724,412 shares of common stock, expected to generate approximately $30 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The offering is set to close on or about April 11, 2025, pending customary closing conditions [1]. - Northland Capital Markets is acting as the exclusive placement agent for this transaction [2]. - The offering is made under an effective shelf registration statement on Form S-3, which was declared effective by the SEC on December 11, 2024 [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general corporate purposes, including working capital [2]. Group 3: Company Overview - Red Cat Holdings, Inc. specializes in drone technology, integrating robotic hardware and software for military, government, and commercial applications [5]. - The company operates through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, and has developed a Family of Systems that includes the Black Widow™, TRICHON™, and FANG™ drones [5].