Red Cat Holdings Announces $46.75 Million Registered Direct Offering of Common Stock

Core Viewpoint - Red Cat Holdings, Inc. has announced a registered direct offering of 6,448,276 shares of common stock, expected to generate gross proceeds of approximately $46.75 million before expenses [1][2]. Group 1: Offering Details - The offering is set to close on or about June 18, 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, declared effective by the SEC on December 11, 2024 [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for general corporate and working capital purposes, including operating expenditures for the new unmanned surface vessel division [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 has developed a Family of Systems through its subsidiaries, including the Black Widow™, TRICHON™, and FANG™ drones, which are optimized for military operations [5].